Senegal HAW: Waqf Financing Religious Cities Development

• Senegal's Haute Autorité du Waqf (HAW) and PNAMVR signed a convention in Dakar on September 17, 2026, to use Waqf for religious city development.
• The agreement establishes a framework for mobilizing Waqf, an Islamic finance mechanism, to fund urban planning and sustainable development projects.
• A Joint Technical Committee will oversee project selection, monitoring, and evaluation for the three-year renewable partnership.
• Key objectives include promoting innovative Waqf-based financing, fostering shared governance, and creating high-social-impact investment poles.
• Officials highlighted the convention as a crucial step in leveraging endogenous resources for territorial development and preserving religious heritage.

This convention establishes a new framework for utilizing Waqf as an Islamic finance mechanism for urban development projects in Senegal's religious cities.

Senegal's Haute Autorité du Waqf (HAW) and the Programme national d’aménagement et de modernisation des villes religieuses (PNAMVR) formally established a significant partnership yesterday, Thursday, September 17, 2026, in Dakar. The two entities signed a convention aimed at leveraging Waqf, a key Islamic finance mechanism, to fund the development of religious cities across Senegal. This strategic collaboration was officially endorsed by Amdy Moustapha Mbacké, the National Coordinator of PNAMVR, and Dr. Ahmed Lamine Athie, the Director General of HAW.

This convention establishes a new framework for utilizing Waqf as an Islamic finance mechanism for urban development projects in Senegal's religious cities. Waqf, defined as a durable donation of assets or resources for charitable or public utility purposes, is now positioned as a crucial instrument to drive urban planning, modernization, and sustainable development initiatives within these culturally significant urban centers. The agreement underscores a concerted effort to integrate traditional Islamic financial principles into contemporary national development strategies.

Designed for an initial period of three years, with provisions for renewal, the convention outlines a clear operational structure. A dedicated Joint Technical Committee will be formed, tasked with the critical responsibilities of selecting eligible projects, ensuring their technical and financial oversight, and conducting regular evaluations of the outcomes achieved. This governance structure is intended to ensure transparency and accountability in the deployment of Waqf funds.

The partnership is built upon several core objectives. Firstly, it seeks to promote innovative financing mechanisms rooted in Waqf principles, thereby enhancing the financial autonomy of development projects. Secondly, it aims to foster a model of shared governance, bringing together public, religious, and financial stakeholders in a transparent collaborative environment. Finally, the initiative is designed to support the establishment of religious and community investment poles that promise significant social impact, including the generation of employment opportunities, income streams, and essential services for local populations.

Beyond its immediate financial and operational goals, the convention introduces two additional strategic axes. One focuses on the perpetuation of religious heritage through the valorization of spiritual knowledge and values. The other aims to firmly establish the Waqf model as an integral pillar of public urban development policy, specifically for cities with a spiritual vocation. This broader vision positions Waqf not merely as a funding source but as a foundational element of Senegal’s territorial development strategy.

Following the signing ceremony, Amdy Moustapha Mbacké emphasized the convention's significance, describing it as a vital step in securing resources for religious cities and a decisive move towards mobilizing endogenous funds. He highlighted Waqf as more than just a financial tool, viewing it as a vision of solidarity and permanence benefiting communities. Dr. Ahmed Lamine Athie echoed this sentiment, framing the partnership within a larger ambition to structure territorial development, asserting that the goal is to transform Waqf into a structuring lever for national progress. He underscored the shared commitment to harmonizing spirituality, modernity, and financial autonomy through this collaboration. This initiative emerges within a national context actively seeking alternative financing mechanisms to bolster territorial development, aiming to diversify funding sources for public and community projects by giving greater prominence to internal resources. The Waqf mechanism Dakar 2026 agreement is thus seen as a powerful means to connect community resource mobilization, project financing, and urban development, particularly for Senegal’s religious cities.

This convention establishes a new framework for utilizing Waqf as an Islamic finance mechanism for urban development projects in Senegal's religious cities. Lawyers advising on public-private partnerships, urban planning, or Islamic finance in Senegal should be aware of this new funding avenue and the associated governance structures, as it could impact project structuring and compliance.

Source: Original reporting via Le Waqf, nouveau pilier