Feasibility Study of Islamic Development Bank Microfinance Development Programme (IDB-MDP) for Senegal

A sound foundation for Microfinance programmes.

Description

The main objective of the study is to ensure a sound foundation for IDB (IsDB) Microfinance Development Programme in Senegal through a comprehensive feasibility study.

Services

Identification of Major Islamic and Conventional Microfinance Models

  • conduct literature review on microfinance models currently in use in Senegal
  • review existing studies, data from the central bank, government agencies, NGOs and MFIs
  • consult published reports and publications
  • use extensively the Senegalese Microfinance portal
  • collect additional information through direct interviews
  • review the different existing models for Islamic microfinance, using mainly the Grameen Bank, successfully implemented in a Sharia-compliant manner in Malaysia and the Village model, implemented in Syria and Afghanistan.

Assessment and determination of Legal Framework

Market survey and Profile of Microfinance institutions

  • collect data through interviews
  • map & analyse major microfinance players in Senegal (MFIs, credit unions, NGOs, informal MF providers and others)
  • provide an overview of microfinance models used in Senegal, be it conventional or Islamic
  • review these experiences with a view on comparing Islamic and conventional lending operations, showing the pros and cons of each

IDB Forward Looking Strategy

Five-years business plan