In Senegal, takaful has been legally possible since CIMA Regulation no. 003, adopted on 10 October 2019 and applied by the National Insurance Directorate, but no active Senegalese takaful operator could be verified to date.
A regional regulation that applies directly in Senegal
On 10 October 2019 the CIMA Council of Insurance Ministers adopted Regulation no. 003/CIMA/PCMA/PCE/2019, applicable in all fourteen member states. Senegal therefore needs no separate national law to welcome a takaful insurer.
What Article 900 of the CIMA Code says
The text defines takaful as mutual assistance among members who are both insurers and insured. It covers life, non-life and capitalisation business, and governs contracts, supervision, accounting and taxation for future operators.
Exclusive licence or extension: Article 903
A company may be licensed solely for takaful or obtain an extension of its existing licence. The minimum share capital reported by Atlas Magazine is three billion CFA francs, a high threshold for any new entrant.
Two lines provided for: general and family
The regulation separates general takaful, for motor, home or business property, from family takaful, for death, protection and savings. Each line must operate with its own contracts and its own separate accounts.
The DNA, policyholders' national point of contact
Attached to the Ministry of Finance and Budget, the National Insurance Directorate applies CIMA rules across Senegal. It is the DNA, or CIMA itself, that you should contact to verify the licence of any company describing itself as Islamic.
No verified Senegalese takaful company
Research identified no active takaful operator in Senegal. An old address attributed to Salama no longer responds, and search results point only to similarly named companies in the Emirates and Saudi Arabia, with no established connection.
A market of 27 insurers with low penetration
At the end of 2024 the country had 27 companies, 18 non-life and 9 life, compared with 29 in 2015, according to a ten-year review reported by AllAfrica. Penetration remains very low, leaving ample room for a new offering.
WAEMU neighbours in the same position
The same CIMA regulation applies to Islamic insurance in Mali and to Islamic insurance in Côte d'Ivoire. Everywhere, the challenge is to move from an available legal framework to companies actually licensed and products actually on sale.
The 2024 CIMA seminar on takaful and retakaful
CIMA announced a seminar on takaful and retakaful practice for late October 2024. The initiative shows the regulator's wish to train supervisors and insurers, but it does not in itself amount to licensing any operator.
Hajj, Umrah and repatriation: the practical needs
Every year Senegalese pilgrims travel to Mecca, and diaspora families often want burial back home. Takaful Hajj insurance or repatriation cover then has to be sought from foreign providers or through conventional contracts.
Tontines, mutuals and microinsurance
Until a local operator emerges, community mutual aid and health mutuals remain ways of sharing risk. Microtakaful shows how small solidarity contributions can be structured under sharia oversight and within a licensed framework.
Assessing a conventional Senegalese policy step by step
Without takaful available, a practising policyholder can examine interest in the savings element of life contracts, how reserves are invested and the exclusion clauses. Motor liability remains compulsory; a scholar or sharia committee can help inform the decision.
Finding compliant cover in Senegal
- Ask the National Insurance Directorate whether any company is licensed for takaful or holds a licence extension.
- Require any seller claiming to be Islamic to show its CIMA licence, the name of its sharia committee and a written contract.
- With no local product, compare conventional contracts on interest, investment of reserves and exclusions.
- Take out compulsory motor liability cover without delay, then consult a scholar on the principle of necessity.
- For Hajj or repatriation, check that a foreign product genuinely covers a Senegalese resident.
- Keep all supporting documents and report a claim within the deadlines set by the CIMA Code and the contract.
What a takaful contribution in Senegal would include
| Item | In a future CIMA takaful product | In a current conventional contract |
|---|---|---|
| Main contribution | Donation to the participants' common fund | Premium earned by the insurer |
| Management costs | Declared operator fee | Loadings built into the premium |
| Investment of funds | Compliant assets approved by a sharia committee | Bonds and interest-bearing deposits are common |
| Annual surplus | Allocated under the fund's rules | Company profit |
| Deductible and exclusions | Set in the contract and supervised by the DNA | Defined by the policy wording under DNA oversight |
Usual documents for getting insured in Senegal
- ECOWAS national identity card or passport
- Certificate of residence
- Vehicle registration and driving licence for motor cover
- Land title, lease or occupancy certificate for home cover
- Medical questionnaire for death or protection cover
- Murabaha or ijara contract where Islamic financing is involved
Mistakes a Senegalese policyholder should avoid
- Believing a takaful company already operates in Senegal on the strength of an old website or a similarly named foreign firm.
- Paying a seller who claims to be halal without checking its licence with the DNA or CIMA.
- Dropping compulsory motor liability cover while waiting for a takaful product, at the risk of penalties and debt.
- Leaving for Hajj without checking cover for medical costs and repatriation from Saudi Arabia.
- Mistaking a tontine or community mutual for licensed takaful, which requires a separate fund and sharia oversight.
Your questions about takaful in Senegal
Is takaful permitted in Senegal?
Yes. CIMA Regulation no. 003 of 10 October 2019 applies in all fourteen member states, including Senegal. It allows a takaful-only licence or a licence extension, with two lines, general and family, and minimum capital of three billion CFA francs.
Can I buy a Senegalese takaful policy today?
No active takaful operator in Senegal could be verified. Before signing anything, ask the National Insurance Directorate for the list of licensed companies and check whether any of them has obtained an extension for takaful.
Who supervises Senegalese insurers?
CIMA sets the regional rules and the National Insurance Directorate, attached to the Ministry of Finance and Budget, applies them nationally. Religious compliance would fall to the sharia committee of each future operator.
What should I do for the pilgrimage to Mecca?
Check the medical and repatriation cover required for the trip, compare assistance products and, if a foreign takaful product is offered, make sure it accepts Senegalese residents and names its sharia committee.