On the sidelines of the Invest in Senegal Forum (FII 2025) which comes from to be held in Dakar (Senegal) on 7 October last, the Islamic Bank of Senegal (BIS) and IFC Corporation, a member institution of the Bank Group worldwide, have sealed a financing agreement in the amount of 40 million dollars (22.5 billion CFA francs) intended to boost Micro small and medium-sized enterprises (MSMEs) in Senegal.

During her speech, the Director General of BIS underlined the symbolic importance of this convention: “It marks the first World Bank operation in sub-Saharan Africa carried out according to the principles of Islamic finance.” Structured around a contract Mourabaha, this funding will allow the BIS to strengthen its support for small and medium-sized enterprises (SMEs), “engine of job creation and the beating heart of our national economy.”

This agreement, described as “historic” by the Director General of BIS, marks a major breakthrough for finance Islamic in Senegal and sub-Saharan Africa.