Challenges

Over the past five years, Bangladesh has shown tremendous growth in terms of digital ?nancial access among the poor. However, the gender gap in terms of access to ?nancial services has widened. In 2017, 65 per cent of men in Bangladesh had access to a transaction account compared to only 36 per cent of women. In addition, a recent Global Gender Gap Index 2023 revealed that a significant gender disparity remain in economic outcomes, ranking 139th out of 147 countries. Availing financial services for rural women, is an arduous process requiring multiple visits, long waiting periods, extensive documentation etc. Only 43 per cent of women in Bangladesh have bank accounts and, among them 4.3 million who do have accounts have not utilized them in the past year. Sathi Network is bridging the gender gap in economic participation and empowering women in Bangladesh by promoting women’s entrepreneurship, enhancing financial literacy, and providing access to financial services.

Toward a Solution

a2i has introduced women-led financial service delivery points in Bangladesh, representing a significant step towards achieving women’s financial inclusion. These points act as crucial hubs offering a wide range of financial services to women at the last mile. SATHI, a network of dedicated women agents, has emerged as a driving force to bridge the gender gap and enable more women to access formal financial services. The initiative aims to

• Ensure access to banking and mobile financial services for marginalized women;
• Enhance the capacities of women agents in Digital Financial Services
• Promote Digital and Financial Literacy among marginalized women

The initiative offers a different approach, which involves collaboration with regulators, financial service providers and fintech, capacity development of women agents, awareness campaigns, content development, women-centric financial product development etc.

Introducing women-led service delivery points nationwide is a unique approach to promoting financial inclusion among marginalized women and fostering women’s economic empowerment. a2i partnered with 14 leading commercial banks, 02 Mobile Financial Services (MFS), and other relevant public-private organizations for the successful implementation of the initiative. a2i ensures selection of women entrepreneurs and integration of relevant financial services within the women agent network. Financial Service Providers are responsible for recruiting SATHI members as Bank/MFS agents and ensuring their ongoing capacity development. a2i consistently monitors the proper delivery of services to marginalized women.

The efforts of the SATHI Network and its 300 women agents align with multiple Sustainable Development Goals (SDGs) and targets. SATHI Network addresses SDG Goal 5 (Gender Equality) and its target 5.1, focusing on ending all forms of discrimination against women and girls, is promoted through the commitment to serving underserved marginalized women. The initiative contributes to target 5.c, which emphasizes the adoption of policies and legislation for gender equality, by providing financial services and empowering marginalized women. By facilitating the opening of bank accounts for over 1,60,000 marginalized women, the network also contributes to Target 1.4 of SDG 1 (No Poverty), which seeks to ensure that all men and women have equal rights to economic resources and access to basic services. Moreover, by serving the unbanked and underserved marginalized women and promoting financial inclusion, the SATHI Network contributes to Target 10.2 of SDG 10 (Reduce Inequality), which seeks to empower and promote the social, economic, and political inclusion of all. Lastly, the network’s collaborative efforts with various stakeholders exemplify the spirit of Target 17.17 of SDG 17 (Partnership for the Goals), which encourages and promotes effective public-private, and civil society partnerships.

a2i’s innovative approach in establishing women-led service delivery points, offering financial services, providing capacity development training, and conducting financial literacy campaigns contributed to improving the country’s competitive advantage. It empowered marginalized women and helped bridge the gender gap, ultimately fostering economic growth and creating a more inclusive and competitive financial ecosystem. There was no such initiative created before in the country.

The initiative ensures sustainability through institutional partnerships, service integration, capacity development, policy impact, and a long-term vision. Collaborating with Banks and MFS establishes shared responsibility for long-lasting impact. Integrating services with women agents streamlines delivery and builds a robust ecosystem. Capacity development training enhances agents’ effectiveness. The initiative’s success may influence policies and foster cooperation. With a focus on financial services and literacy campaigns, it envisions empowering marginalized women for lasting transformation in the financial landscape.

The replicability of the SATHI Network initiative lies in its scalable and flexible design. The model of women-led service delivery points can be replicated in various regions or countries by aligning policies, establishing capacity-building programs, fostering collaboration among stakeholders, and implementing monitoring mechanisms etc.