Under the Program for the Development of Islamic Microfinance in Senegal (PROMISE), Senegal received 47.6 billion FCFA. The announcement was made by the Minister of Microfinance and Social and Solidarity Economy, Zahra Iyane Thiam who chaired, on Friday February 21, the meeting of the PROMISE steering committee.

The implementation of the program through cooperation between the State of Senegal and the Islamic Development Bank has enabled Senegal to receive funding of 47.6 billion FCFA.
PROMISE is a structure of the State of Senegal which works for the promotion and development of Islamic Microfinance in Senegal.
According to Zahra Iyane Thiam, it is true that Islamic finance products have been used in the WAEMU zone since 1983, but in a relatively marginal way. "It was only from 2012, with the signing of the protocol between the BCEAO and the IDB and which resulted in the development of a more favorable legal framework that Islamic finance began a new impetus of development in our area,” he said.
The financial intermediation market has not remained outdone with the opening of institutions or counters specializing in this area. On the demand side, the financing needs of the economy appear to be significant, particularly in the sectors of agriculture, fishing, livestock and tourism.