The Advent of Islamic microfinance in Senegal

• Massamba Souleymane SECK

  The University of THIES

  https://orcid.org/0000-0001-8779-4840

  Author

• Abdoulaye BIAYE

  Ministry of Solidarity Economy and Microfinance / Senegal

  Author

In Senegal, as elsewhere in the WAEMU zone, access to credit for vulnerable micro entrepreneurs is a major concern despite the important role of traditional microfinance institutions. To effectively solve this problem, Islamic microfinance has been identified as an alternative offer, alongside conventional finance in order to give access to bank accounts to those underprivileged people that have not been sufficiently served by financial institutions. Thus, this article aims to study the advent of Islamic microfinance in Senegal. To do this, our research focuses on the history and role of the State of Senegal in the promotion of Islamic microfinance to finally present the characteristics of this new funding model for vulnerable populations often excluded from the traditional financial system.

1. Massamba Souleymane SECK, The University of THIES

   PhD student in Economics and Social Sciences
   Doctoral School of Sustainable Development and Society (ED2DS)

2. Abdoulaye BIAYE, Ministry of Solidarity Economy and Microfinance / Senegal

   Economist, Specialist in Value Chains in the Program of Development of Islamic Microfinance in Senegal (PROMISE).

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