Dakar, 16 January 2025 - The Fonds Souverain d'Investissements Stratรฉgiques (FONSIS) is strengthening its commitment to inclusive economic growth by allocating 2.5 billion CFA francs to AL RAHMA, a microfinance institution and subsidiary of the Banque Nationale pour le Dรฉveloppement รconomique (BNDE). This financing, provided under the Islamic Recovery Fund (IRF), aims to give Senegalese small and medium-sized enterprises (SMEs) easier access to competitive financing solutions, with advantageous terms and attractive margin rates.
By supporting this initiative, FONSIS is playing a leading role in boosting the activities of SMEs, thereby consolidating their contribution to job creation and economic growth. Specialising in Islamic microfinance, AL RAHMA offers inclusive financial solutions tailored to players in the social economy, who are often excluded from the traditional banking system.
S’exprimant sur cette initiative, M. Babacar Gning, Directeur Gรฉnรฉral du FONSIS, a dรฉclarรฉ : ยซ Ce partenariat avec AL RAHMA vise non seulement ร maximiser lโimpact de nos investissements dans les PME, mais รฉgalement ร renforcer lโรฉcosystรจme de la finance islamique au Sรฉnรฉgal, favorisant ainsi une inclusion financiรจre plus large. ยป
De son cรดtรฉ, M. El Hadji Birane Diop, Directeur Gรฉnรฉral d’AL RAHMA, a soulignรฉ : ยซ Grรขce ร ce partenariat, le FONSIS contribue, de maniรจre significative, ร notre ambition de devenir le porte-รฉtendard de l’inclusion financiรจre et du dรฉveloppement durable. Nous nous engageons ร promouvoir une finance รฉthique, responsable et accessible aux acteurs de lโรฉconomie sociale et solidaire, du secteur informel et des trรจs petites et moyennes entreprises (TPME), avec des solutions conformes aux principes de la finance islamique. ยป
With a total budget of 20 billion CFA francs, the FIR is the result of collaboration between FONSIS, the Islamic Development Bank (IDB) and the Senegalese government. Thanks to partner institutions such as AL RAHMA, it offers SMEs Islamic financing instruments on advantageous terms.
ร propos d’AL RAHMA
A subsidiary of BNDE, AL RAHMA is a 100% Islamic microfinance institution licensed in Senegal. Created in 2019, it offers financial solutions that comply with the principles of Islamic finance and are tailored to the needs of entrepreneurs, players in the social economy and SMEs.
