6.9% gender gap prevails in financial inclusion in Bangladesh: Study

Overall gender gap in financial inclusion in Bangladesh stands at 6.90% with the highest discrepancy found in mobile financial services (MFS), according to a study by the Centre for Research and Development (CRD).   

The disparity in MFS stands as high as 35.42% in favour of men while 17.28% women are behind them in terms of access to banking service. 

In microfinance, however, the gap remains largely in favour of women with 56.37% difference, the CRD said while sharing the findings at a conference on "Financial Inclusion in Bangladesh: Gender Perspectives" in Dhaka on Saturday. 

About 76% of the discrimination has been caused by demographics, economic status, education, employment, and marital status. 

Not only a higher proportion of women are financially excluded, but they also have a smaller share in "high inclusion" category like formal banking, the study says. 

A survey was carried out nationwide among 7,560 individuals from 3,300 households in 220 clusters spanning 56 districts under a two-and-a-half-year research project

A qualitative data analysis reveals that restrictive gender and social norms significantly impede women's financial inclusion. 

The study recommends ensuring women's access to digital device, women-friendly business environment at bank branches, and setting terms for loans and other financial services in favour of them. 

Enhancing women's financial and digital literacy, extending fiscal incentives to small women entrepreneurs should be other priorities. 

It also emphasised women's access to employment and income, which it says plays a crucial role in increasing their access to financial services. 

Atiur Rahman, former Bangladesh Bank governor, was the chief guest at the inaugural session of the day-long conference, while Mustafa K Mujeri, executive director of Institute for Inclusive Finance and Development (InM), joined the closing session as the chief guest. 

Hillary Miller-Wise, deputy director of Inclusive Financial Systems; Lynn Eisenhart, deputy director of Strategic Investment Fund, Bill and Melinda Gates Foundation, among others, also attended the event.