2018 Women’s Financial Inclusion And The Law. [in] Women, Business And The Law 2018, World Bank

Description. Legal reform is a crucial element that needs to be embedded in broader strategies to advance women’s financial inclusion. According to surveyed members of the Alliance for Financial Inclusion, the main barriers identified for women are financial literacy (75%), collateral requirements (66%) and the sociocultural environment. Regulatory requirements can prevent women from accessing financial services. Consequently, some economies have chosen to include an assessment of the legal and regulatory framework in their national financial inclusion strategy. Understanding and tackling these legal constraints should be part of an overall strategy to accelerate women’s financial inclusion. Data on gender-differentiated laws can help identify the gaps and monitor progress in closing these gaps over time.