Senegal: Financial System Stability Assessment Update

Volume/Issue: Volume 2005 Issue 126
Publication date: April 2005
ISBN: 9781451833973
$20.00
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Topics covered in this book

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Banks and Banking , Money and Monetary Policy , ISCR , CR , bank , market , enterprise , bank-enterprise relationship , top-rated small and medium-sized enterprises , development bank , microfinance sector , bank portfolio , excess reserves , Senegalese bank , capital base , Credit , Bank credit , Commercial banks , Mortgages , Africa , West Africa

Summary

This Financial System Stability Assessment Update on Senegal reports that the banking sector remains the cornerstone of the financial sector, and risk concentration remains the main source of vulnerability. The largest microfinance institutions (MFI) are sound, but smaller ones are weaker and need to be consolidated and better supervised. Commercial banks and large MFIs provide credit to small- and medium-sized enterprises, but their access to financial services suffers from asymmetries of information and flaws in the judicial system. The development of the regional capital market has not met expectations.