The issue of financial inclusion is an area of great significance, with a pivotal role in empowering individuals and fostering economic advancement, particularly within developing nations such as Pakistan. A recent investigation has examined gender disparities in financial inclusion in Pakistan, using data sourced from the Global Findex 2021 survey, with the objective of comprehending the factors influencing these disparities and their implications on the attainment of Sustainable Development Goals related to gender parity and economic empowerment.
The investigation unveiled substantial gender discrepancies in financial accessibility and utilization, with a mere 13% of Pakistani women possessing financial accounts as opposed to 34% of men. Corresponding inequalities were also observed in the realm of digital finance. Socio-economic variables such as education, income, and employment were determined to impact financial inclusion disparately for men and women.
These discoveries underscore the necessity for gender-sensitive policies aimed at rectifying these imbalances and achieving the Sustainable Development Goals pertaining to gender parity and economic empowerment. The study offers valuable insights for policymakers and stakeholders in formulating targeted strategies and interventions to enhance financial inclusion and address gender disparities in Pakistan.
Additionally, the study examined the influence of digital financial services on financial inclusion, while underscoring the necessity for initiatives targeting the improvement of women’s education and employment opportunities, as well as endeavors challenging discriminatory societal norms and practices that impede women’s financial independence.
Overall, the study contributes pertinent information to the global discourse on financial inclusion by furnishing a thorough examination of gender disparities in Pakistan. It brings to light the specific challenges and opportunities for fostering women’s financial empowerment within the country, providing crucial insights for policymakers and financial institutions seeking to advance gender equality in financial inclusion.
The research represents a notable stride towards addressing gender imbalances in access to and utilization of financial services, thereby contributing to broader global efforts towards realizing inclusive growth and development.
Source:
Razzaq, A., Qin, S., Zhou, Y. et al. Determinants of financial inclusion gaps in Pakistan and implications for achieving SDGs. Sci Rep 14, 13667 (2024). https://doi.org/10.1038/s41598-024-63445-6