GENDER EQUALITY IN THE                                     BANKING SECTOR

I am sharing my Interview on Gender Equality in the Banking System which has been published in a book written by Shakil Kalam.

Questionnaire:

QUESTION1. You know, women are being deprived of their rights in male-dominated societies all over the world. How do you think equal rights for men and women will be established?

ANSWER: Establishing equality between women and men, and eliminating all forms of discrimination against women, are fundamental human rights. Yet, women in male-dominated societies around the world, regularly suffer violations of their human rights, because it is not given priority.

To achieve equality between women and men requires a deep understanding of ways in which women experience discrimination, and are denied equal rights.

In recent years, the United Nations made much progress in this respect, across the world.

Fundamental human rights for women and every human being were enshrined by the United Nations some 70 years ago. T

these rights include the right to live free from violence, and slavery; to be educated; to own property; to vote, and to earn a fair and equal wage.

However, women’s realities are constantly changing, and new manifestations of inequity are regularly emerging.

Some groups of women claim discrimination based on their age, ethnicity, nationality, religion, health status, marital status, education, disability, and socioeconomic status.

These complaints should be looked into when devising measures to combat discrimination against women.

Prior to the 20th Century, women were not allowed the following:

1 To have a passport.

2. Serve as permanent members of the military.

3. Work in jobs that were hazardous to their health or morals.

4. Keep money.

5. Work night shifts.

6. Work while pregnant. ...

7. Serve on a jury.

8. Vote.

All this has changed in many countries.

In my country of Trinidad and Tobago, we have a woman President, a woman Speaker of the House, Women Parliamentarians, Women Bank Executives, Women CEOs, and a Woman Moderator of the Presbyterian Church, a Woman Opposition Leader, and we once had a woman Prime Minister.

QUESTION 2. You know, women's rights and empowerment depend on financial inclusion. In your opinion, what are the ways of women's financial inclusion?

ANSWER: Financial inclusion is important for women to access loans, credit facilities, and operate businesses. It is essential for them to save money, make investments, become entrepreneurs, and build assets to prevent poverty.

Financial Inclusion is a critical indicator for the development and well-being of society around the globe.

Banks must provide affordable financial services for all.

Financial inclusion facilitates gender equality and sustainable development goals.

Empowering women is a sensible approach to building the economies of the world. Men alone cannot do it.

There are many single mothers in the world today.

Women’s financial inclusion is essential for global progress.

QUESTION 3. What is meant by gender equality in banking?

ANSWER: Banks have recognized that increasing equality of opportunity across gender, ethnic, and racial groups, provides social and economic benefits.

Women are being given senior positions in banks along with men.

Banks have also increased efforts to address gender equality challenges for women customers who want to start businesses.

Bank products are developed for men and women alike.

Banks in developed countries have recognized that gender equality is when people of all genders have equal rights, responsibilities, and opportunities. Gender equality prevents violence against women and girls. It's essential for economic prosperity. Societies that value women and men as equal, are safer and healthier.

Gender equality is a fundamental human right.

QUESTION 4. What are the rights of women in banking?

ANSWER: The banking sector in developed countries has been at the forefront of women's empowerment. Financial inclusion and economic independence of women have helped them achieve socio-economic equality. This makes women's empowerment as much of an economic issue as a social one.

However, in some countries, women are still underrepresented at all levels of the global financial system, from depositors and borrowers to bank board members, and regulators.

The rights of women in banking are fundamental human rights, i.e. gender equality.

QUESTION 5. What are the barriers to the protection of women's rights in banking?

ANSWER: There are various factors stifling progress for women, and which are barriers to the protection of women’s rights in banking.

The most critical is the impact of social norms, which are prevalent mainly in Africa, Asia, the Middle East, and parts of Eastern Europe.

Social norms in these countries influence nearly every aspect of daily life, including financial services. They have an adverse impact on financial inclusion for women because they can limit women’s ability to work outside the home, engage with male agents, or even own a phone.

Cultural norms about what is acceptable for a woman to do, where she can go alone, or with whom she can interact, all serve to limit women’s access to progress.

Some common social norms and beliefs include:

i. Women are primarily viewed as caregivers and are confined to the home.

ii. Unfounded beliefs that women are not as financially savvy as men, and must rely on their husbands/male relatives to make financial decisions.

iii. Societal beliefs that women should not own property or be involved in financial decisions.

iv. Women are not expected to be business entrepreneurs, because doing so interferes with their primary responsibility of managing the household and looking after the family.

v. Unfair practices in the workplace: Some employers have policies against hiring women because they believe that they may invariably take time off, for maternity leave and sickness of children.

QUESTION 6. What are your suggestions on removing barriers to women's rights in banking?

ANSWER: To remove barriers to women’s rights in banking requires Education and the removal of Regulatory Barriers.

Regulators should implement measures to influence or shift mindsets on social norms.

Legislation promoting gender equality and financial literacy campaigns should be introduced in countries where necessary. Women should have equal access to courses of study and opportunities for promotion in the workplace.

Brenda Mohammed

BIO: Brenda Mohammed of Trinidad is a former Bank Manager of Republic Bank Limited of Trinidad and Tobago.

She is now a renowned, multi-award-winning, and bestselling author who published 46 books.

Her genres are memoirs, romance, science fiction, mysteries, psychological thrillers, children’s books, poetry, and self-help.

She is the Founder of the Literary Network How to Write for Success, with five successful forums:

1. How to Write for Success Literary Forum,

2. Literary Forum for Poems Against Domestic Violence,

3. Poems for Prevention of Suicide Literary Forum,

4. Library of How to Write for Success - BOOKS ONLY and

5.Grupo Hispaniomundial De Escritores -UHE Trinidad and Tobago.

Her superb writing won her several literary awards in the USA, Peru, Kazakhstan, Seychelles, Nigeria, India, Romania, Argentina, Morocco, Philippines, Hong Kong, Barcelona, and the UK.