The influence of conventional and Islamic microfinance on Bangladeshi women empowerment / Sajeda Pervin

Sajeda , Pervin (2021) The influence of conventional and Islamic microfinance on Bangladeshi women empowerment / Sajeda Pervin. PhD thesis, Universiti Malaya.

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Abstract

Microfinance has favourable outcomes in socio economic perspectives in terms of poverty alleviation, women empowerment, employment, entrepreneurship, financial innovation and financial inclusion. However, there is no consensus on the role of microfinance on women empowerment. Whether microfinance is good or bad for women empowerment is an ongoing academic and policymaking debate. On the other hand, as an alternative microfinance model, empirical evidence on the role of Islamic microfinance on women empowerment is very rare in the literature. Therefore, the main objective of this study is to investigate the influence of conventional and Islamic microfinance on women empowerment in Bangladesh. The study additionally studied whether there is any difference between conventional and Islamic microfinance in influencing women empowerment. The empowerment framework considered are resources, agency, and achievement. Resources refer to education, involvement in income generating activities, access to media and access to politics; agency includes decision making agency, freedom of movement, voice with husband and family members; and achievement includes economic security, control over loan use and management, participation in public protest and social support and self-efficacy. This study uses case study method in the investigation process. The lenders investigated are Grameen Bank and Rural Development Scheme of Islami Bank Bangladesh Limited. Data on borrowers were obtained from 40 individuals (20 from each institution) from the four villages in Chittagong, Bangladesh. Data were also obtained from key informants’ interviews, focus group discussions, participant observations and documentary evidence. Data were analyzed using a 7-steps framework method. Pattern matching, thematic analysis and cross case analysis were employed as analytical framework for interpretation using CAQDAS NVivo 10 software. The results indicate that conventional microfinance is influential in terms of access to media and phone, and political and legal awareness of resource dimension. In terms of agency, this study found that conventional microfinance has more influences only on ability to make large purchase decision, involvement in major decisions and relative freedom from the domination by the family. This study also found that conventional microfinance has limited influence in terms of achievement dimension. Islamic microfinance is more influential in terms of access to media and phone, and political and legal awareness of resource dimension. However, among the seven indicators of agency dimension this study found that Islamic microfinance has more influences only on ability to make large purchase decision, and involvement in major decisions. In addition, this study found that Islamic microfinance has more influence on the self- efficacy among the four indicators of achievement dimension. Finally, this study also found some other factors which influence the microfinance role on women empowerment such as microfinance borrower’s life tragedies, husband’s profession and absence, social context, active involvement in income generating activities, higher education and training and self- determination.

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