THE IMPACT OF BRANCHLESS BANKING ON WOMEN ENTREPRENEURS
Keywords:
Branchless Banking, Women Entrepreneurs, Entrepreneurship, Financial Inclusion, Islamic Banks.Abstract
In Pakistan, women entrepreneurs face numerous challenges when opening and managing bank accounts for business operations. Branchless banking serves as a vital tool to address these obstacles. This study investigates the impact of branchless banking on women entrepreneurs using a quantitative methodology, based on a survey of 50 individuals, including both women entrepreneurs and Islamic bankers.
Our research concludes that societal and domestic challenges significantly hinder women’s ability to visit physical bank branches, as doing so often conflicts with household responsibilities. Furthermore, safety concerns frequently necessitate a family member's accompaniment for branch visits. The study also found that a majority of women entrepreneurs lack awareness of branchless banking products, services, and operational mechanisms.
Despite these barriers, the findings indicate that branchless banking has a positive impact on women entrepreneurs. We recommend that Islamic banks actively include women entrepreneurs in their target markets and develop strategies to market branchless banking products effectively. Creating awareness is essential to bridge the information gap. Moreover, there is a pressing need to introduce gender-specific financial products, such as; relaxed credit assessment criteria, issuances of letter of guarantees and letter of credit facilities, gold or cash backed easy financing schemes, consumer financing, supply chain management, payroll & cash management services, wealth management products, dedicated ADC (Alternative Delivery Channels) services.
