Senegal: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency; and Securities Supervision

Volume/Issue: Volume 2001 Issue 189

Publication date: October 2001

ISBN: 9781451833942

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Investments and Securities-General , Business and Financial , ISCR , CR , interest rate , monetary management , CFA franc , insider trading , broad money , housing bank , interbank market , exchange rate , capital market , foreign exchange , intervention instrument , financial system , credit risk , bank capital , Commercial banks , Loans , Securities , Securities markets , Africa , World Bank mission , Policy transparency , MFP transparency code , Conférence Interafricaine , publication policy , institution de Prévoyance Retraite du Sénégal , banking system , Banque Centrale des Etats , Financial sector , Financial Sector Assessment Program , West Africa

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Summary

Senegal’s financial sector is dominated by 10 commercial banks, which account for more than 85 percent of total financial sector assets. The banking system in the country has gradually regained health and is generally well regulated and supervised. The high concentration of credit risk in bank loan portfolios is unavoidable given that banks have little scope for further portfolio diversification. Microfinance development in the country has kept pace with the dynamic evolution of this sector in the West African Economic and Monetary Union region.