EXTRA-76590 - USA (Washington) - College Savings Consulting Services - Deadline October 21,2026

Vendor needs to provide college savings consulting services to the government authority located in Washington. – The selected consultant will conduct an independent assessment of structure, operations, investment characteristics, contractual obligations, and applicable legal framework, and provide recommendations regarding its compatibility with generally accepted principles of Islamic finance.• Evaluate Tuition Plan’s legal structure, governance, contractual relationship with program participants, and, if applicable, investment characteristics in the context of established principles of Islamic finance. A comprehensive review of the underlying investments in the Tuition Plan trust fund would only be necessary to the extent that the consultant determines it is relevant to the analysis of Shariah–compliance from the end saver’s perspective. • Identify any features of the program that may present concerns under commonly recognized Shariah standards.• Assess whether agency could reasonably be considered a Shariah–compliant education savings option under the recognized standards and methodologies applied in the review.• Identify any plan features that may present ambiguities or variations in interpretations among recognized Islamic scholars or Shariah standards that may affect the analysis.• Recommend any further analysis, scholarly review, and/or certification procedures that may be available and advisable. Consultant should specifically state if it is feasible to seek formal certification from a recognized Shariah compliance governing or standards body and, if so, provide specific guidance on seeking such a certification. • Recommend potential modifications, disclosures, or operational changes, if any, that could affect the program's compatibility with Islamic finance principles.