Senegal: Islamic banks and finance
Checked on October 12, 2026
In Senegal, Islamic finance falls under the common WAEMU framework: the BCEAO adopted instructions on Islamic banking operations in 2018, supplemented by the 2023 uniform laws, and the WAEMU Banking Commission licenses and supervises institutions. Across the Union, the number of licensed Islamic finance institutions rose from 2 in 2018 to 21 at the end of 2025, and the BCEAO plans to set up a regional Central Conformity Council in 2026. Banque Islamique du Sénégal is the country’s only fully Islamic bank, and the state has issued several sovereign sukuk since 2014.
The provider
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Banque Islamique du Sénégal (BIS)
Islamic bank- Supervision
- CB-UMOA
- Products
- Current account, Savings, Home finance, Business
- Contracts
- Ijarah
In 2026 the bank offers accounts, savings, ijara financing and a home finance offer called “Imobis”.
Before you commit
- Ask for the names of the Shariah board members and their published rulings on the product.
- Check that the provider is authorised by the country’s regulator.
- Compare the total cost, not just the monthly payment: the calculators in this section can help.
- Read the contract: who owns the property, who bears the risk, late-payment charges and where they go.