Challenges in Financial Inclusion of Ethnic Minority Women: Evidence from an Emerging Economy

This study investigates consumer perceptions of green banking practices and their impact on customer loyalty. To show the relationship between customer loyalty and green banking practice, green image has been used as mediating factor in this study. Data for this study were collected using a quantitative survey from 353 To find out the obstacles preventing ethnic minority women’s participation in financial inclusion, four hill areas of Bangladesh have been selected to study where convenient sampling has been applied to collect data. Face-to-face survey interview technique was followed to a sample size of 100 women. Data were analyzed using frequncy analysis, descriptive statistics, pearson correlation analysis and ordinary logistic regression. It has been found that awareness of bank benefits, distance, financial literacy, popularity of other services, and income level are significant obstacles either preventing or discouraging ethnic community women’s financial inclusion. Based on the result, it is recommended that banks should increase financial literacy programs to make women financially literate and aware of bank services. As internet connection is low in hilly areas, banks may establish more physical branches to serve them so that they can come under the umbrella of financial inclusion and banks may increase their product lines for serving women of ethnic minority from these hill areas. This study is beneficial for the banks, regulatory bodies and policy makers in Bangadesh and other emerging economies as the findings reveal the fact that banks and concerned parties should encourage ethnic minority women to open bank account to enhance financial inclusion, economic growth and women empowerment.