Knowledge, Access, and Decision-Making

Abstract

In resource-constrained economies, lack of financial participation prohibits women's economic empowerment and opportunities to improve circumstances. With the advent of Digital Financial Services (DFS), a growing emphasis has been placed on the possible positive impact of DFS on lives of individuals. However, for people to understand, adopt, and use DFS, they require certain prerequisites and enablers. In this paper, we use a mixed methods approach to analyze the gendered barriers in the readiness for and adoption of DFS as well as the impact of gendered roles in curtailing or enhancing the same. We present our analysis of 51 semi-structured interviews to evaluate the affordances or, lack thereof, in affordability of funds, authority of transactions, access to technological devices, and agency of social and cultural mobility-all of which are prerequisites to fully utilizing DFS. We discuss the sociocultural and religious context in Pakistan that underpins some of these gendered barriers and the perceived views of both men and women.

Financial Inclusion and Women’s Empowerment in Pakistan

“…Field, Pande, Rigol, Schaner, and Troyer Moore (2021)study in India shows that strengthening women's financial control boosts their labor supply and challenges gender norms. Ibtasam et al (2018)examine gender roles and financial inclusion in Pakistan, revealing that socio-cultural and gender norms restrict women's access to financial services. Additionally, a study by Khan and Ullah (2021) in Pakistan emphasizes the positive impact of financial inclusion on women entrepreneurs.…”

Roles of Technology for Risk Communication and Community Engagement in Bangladesh during COVID-19 Pandemic

“…However, increasing women's access to digital financial services (DFS), such as digital payment systems and mobile financial services, will help minority groups like women to make their own decisions regarding spending, savings, and financial risk [22]. A study on developing countries like Pakistan, where cultural, religious, and security concerns are evident, shows that decision making and own behalf action taking will help women access fintech services regardless of the availability of infrastructure and technology [23]. A scholarly study in Bangladesh showed that during the COVID-19 pandemic, regardless of gender among these communities, technology, and technology based services such as digital financial services adoption increased in day-to-day work and financial work [25].…”

The relationship between financial inclusion and women’s empowerment in rural Bangladesh: The moderating effect of agent banking

“…Ibtasam et al [64] have established that in resource-constrained nations, a lack of financial participation harms women's economic empowerment and opportunity to better their conditions. Hendriks [17] posited that financial inclusion significantly impacts millions of women's lives and livelihoods globally and is a key tenet of its strategy for women's economic empowerment.…”