Bis Bank Tender

Project Number
50240
Company Name
Banque Islamique du Senegal
Date SPI Disclosed
Apr 10, 2025
Country
Senegal
Region
Africa
Projected Board Date
May 9, 2025
Environmental Category
FI-2
Status
Pending Approval
Last Updated Date
Department
Regional Industry - FIG Africa
Industry
Financial Institutions
Sector
Commercial Banking - SME Finance
Project Description
The proposed investment consists of an unsecured sharia facility of up to EUR40 million with a up to 5-year tenor to support the only Islamic bank in Senegal, Banque Islamique du Senegal (BIS or the Bank). The funds will enable the Bank to provide sharia compliant financing to micro, small and medium enterprises (MSMEs) (The Project). The Project is a unique opportunity to enhance financial inclusion for underserved MSMEs in Senegal, an IDA country, where Islamic finance remains underdeveloped despite a Muslim population of 96%.