Experts from the West African Economic and Monetary Union (UEMOA) met on Saturday, November 5, 2021 in Abidjan, as part of the inaugural edition of Islamic finance conversations (IFC). On the occasion, M'Baye Sidy, of the Regional Council for Public Savings and Financial Markets (CREPMF) indicated that Islamic banks represent 5% of banking activities in the area.

The IFCs are a framework for exchanges to understand the dynamics of the markets, the strategic issues, the conceptual approaches and the opportunities offered for the development of a real industry of the Islamic economy at the service of financial inclusion and sustainable development. in Africa. For M'Baye Sidy, Islamic finance is still lagging behind in this regional part of Africa with around 110 million inhabitants, nearly 60% of whom are Muslim in countries like Mali and Niger. Islamic finance has been practiced there for three decades through Islamic banks in Niger and Senegal. According to 2016 figures, the assets of Islamic structures are estimated at 2700 billion dollars in 2020. West Africa only holds 05% of Islamic finance assets.