Digital financial services have expanded opportunities for millions of women across the globe. More than 240 million more women now have an account with a financial institution or mobile money service, compared to 2014.1 Through this increased engagement in the formal economy, women’s resilience to financial, economic and health shocks is improving. However, there remains much work to do to achieve gender equality in financial services. Approximately one billion women do not have formal financial services, due to persistent barriers in access to identification documents, mobile phones, digital skills, financial capability, as well as inappropriate products and more.
This report is co-authored by the Better Than Cash Alliance, Women’s World Banking and the World Bank Group, for the G20 Global Partnership for Financial Inclusion (GPFI), under the Kingdom of Saudi Arabia’s G20 Presidency. This paper was written by a team: Ruth GoodwinGroen, Better Than Cash Alliance - United Nations Capital Development Fund; Leora Klapper, Development Research Group - World Bank; Margaret Miller, Finance, Competitiveness and Innovation Global Practice - World Bank; and Andy Woolnough, Women’s World Banking; additional team members included Nandini Harihareswara, Better Than Cash Alliance - United Nations Capital Development Fund. The report benefitted from a World Bank peer review process with inputs from Mahesh Uttamchandani, Caren Grown, Colin Xu, Mehnaz Safavian, Yasmin Klaudia Bin Humam and Julia Constanze Braunmiller. The report was written with financial
support from the Better Than Cash Alliance - United Nations Capital Development Fund, the World Bank Group and the Kingdom of Saudi Arabia. The team would like to especially thank the G20 GPFI Saudi Presidency team, led by Haitham Alghulaiga and comprised of Alia Kabbani, Hamad Aljaad, Hamad Alrushaid, Sundos Altwaijri, Saud Albarrak and Hettaf Alqattan, for their leadership and guidance.
Additionally, the team extends its gratitude to G20 member countries and implementing organizations for their input and contributions, as well as to the Arab Monetary Fund and Islamic Development Bank.
Find the full report: https://www.gpfi.org/sites/gpfi/files/sites/default/files/saudig20_women.pdf