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About Senegal

Senegal’s banking sector is among the most competitive in Africa, yet significant growth opportunities remain due to steady economic expansion and a large unbanked population. With careful management, Senegal is poised to become a key banking hub in West Africa.

The French-speaking country, with a majority Muslim population, is actively positioning itself as a center for Islamic finance in the region. The government is adapting policies to issue Shariah-compliant debt, joining South Africa and Nigeria in exploring Islamic finance as a tool for development funding.

As part of the eight-nation West African currency union, Senegal has achieved political stability under its recently elected leadership. There is a pressing need to finance sectors such as energy, infrastructure, and agriculture to boost economic growth. Mouhamadou Lamine Mbacke, Managing Director of the African Institute of Islamic Finance, notes: “With relative political stability, we aim to attract investors to Senegal as a gateway for West African investments.”

Senegal’s $14 billion economy is making waves in the global Islamic finance market, which is projected to grow substantially in the coming years. With a large Muslim population and robust economic growth—4.3% in 2013, up from 3.7% in 2012 (IMF)—Senegal offers a promising market for Shariah-compliant financing. Compared to South Africa and Nigeria, where the population is more religiously divided, Senegal presents a clearer opportunity for expansion in Islamic finance.

Training Fee: Training fee include admission to training sessions, study materials, lunch & refreshment and Certificate.