The Advent of Islamic microfinance in Senegal
DOI:
https://doi.org/10.31686/ijier.vol7.iss3.1371Keywords:
Classical microfinance, Islamic microfinance, vulnerable micro entrepreneursAbstract
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.
Downloads
References
Department of Regulation and Supervision of Decentralized Financial Systems (DRS-SFD) annual report 2017.
Dupas, P., & Robinson, J. (2013), Savings constraints and microenterprise development: Evidence from a field experiment in Kenya. American Economic Journal: Applied Economics, 5(1), 163–192. https://doi.org/10.1257/app.5.1.163.
Survey of the Financial Inclusion Reference Situation in Senegal (ESRIF), 2017.
Hugon PH., "Uncertainty, precariousness and local financing, the case of African economies", Third World, 1996, No. 145, pp 13-40.
Hugon PH., (1996b), "Innovations in Informal and Semi-Formal Financial Spheres in SubSaharan Africa" Worlds in Development, Volume 24: 94-17.
Labie M. (2009), "Microfinance: Evolution of the Sector, Product Diversification and Governance", Reflections and Perspectives, Vol. 48, No. 3, p. 5-6, August.
Lelart M. (2002) "The evolution of informal finance and its consequences on the evolution of financial systems", Worlds in Development, Volume 30, 119.
Nagarajan G., Meyer R. L. (2005) Rural Finance: Recent Advances and Emerging Lessons, Debates, and Opportunities, Working Paper nº AEDE-WP-0041- 05, Department of
Agricultural, Environmental, and Development Economics, The Ohio State University.
Obaidulla M., 2008, « Introduction to Islamic Microfinance », IBF Net, New Delhi, P.40.
Prescott E. S., 1997, « Group Lending and Financial Intermediation: An example », Federal Reserve Bank of Richmond Economic Quarterly, vol. 83.
Smith. H. (2009), "The Guide to Islamic Finance", Financial Markets Collection.
Downloads
Published
Issue
Section
License
Copyright (c) 2019 Massamba Souleymane Seck, Abdoulaye Biaye
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
Copyrights for articles published in IJIER journals are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author for more visit Copyright & License.
How to Cite
