Islamic microfinance could provide a sustainable solution to the challenges of informality, debt, and agricultural financing in Senegal. This is the conviction of financial engineer Mansour Ndiaye.

Invited to the Seneweb Eco program this Sunday, February 15, 2026, he stated that Islamic microfinance can provide lasting stability for those working in the informal sector. "By addressing financial issues, Islamic microfinance could resolve these kinds of problems," he asserted, citing the example of street vendors who "find themselves with only 4,000 or 5,000 francs in hand, selling lemons or biscuits on the street."

For Mansour Ndiaye, the key lies in sharing profits rather than in debt. "As soon as an individual reaches a higher level of activity, they naturally seek to stabilize themselves," he explains, referring to integration that is financial, social, and economic.

In the agricultural sector, he highlights the Salam contract, which allows for financing production before harvest. "You provide the land, I contribute the capital and inputs. We farm together and share the profits," he summarizes. He specifies that in the event of losses due to weather-related risks, the investor accepts their share of the risk.

Furthermore, the financial engineer criticizes the high rates of conventional microfinance. "We have seen overall rates as high as 54%. How can we help someone with such levels?" he asks, emphasizing that "in Islamic microfinance, we don't talk about a stock of debt," but about the real economy and partnership.

Despite its potential, he acknowledges that the regulatory framework remains timid. "The central bank is moving very slowly," he laments. He also mentions tax issues, particularly double taxation, and the lack of appropriate prudential measures.

In this sense, Mansour Ndiaye calls for more political will and awareness because he believes that "Islamic finance can constitute a sustainable response to the problem of indebtedness".