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