Policy-Oriented Strategies for Expanding Financial Inclusion and Literacy Among Women and Marginalized Populations

• Author(s): Comfort Iyabode Lawal ; Solomon Christopher Friday ; Damilola Christiana Ayodeji ; Adedamola Sobowale
• Paper ID: 1705094
• Page: 660-683
• Published Date: 31-10-2023
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 7 Issue 4 October-2023

Abstract

This paper explores policy-oriented strategies for expanding financial inclusion and literacy among women and marginalized populations, with a focus on fostering gender equity, accelerating the adoption of digital finance, and achieving long-term national economic resilience. Despite significant global progress, vast segments of society—particularly women, rural dwellers, persons with disabilities, and ethnic minorities—remain underserved by traditional financial systems. Addressing these disparities is vital not only for individual empowerment but also for inclusive economic development. This study presents an integrated framework of evidence-based policies that governments and stakeholders can adopt to close the financial inclusion gap. These include gender-responsive financial regulations, targeted financial education initiatives, digital identity systems, mobile banking infrastructure, and public-private partnerships designed to support inclusive financial ecosystems. By leveraging innovations in fintech, such as digital wallets, micro-savings, and blockchain-enabled platforms, these strategies promote access to affordable and secure financial services for marginalized groups. The paper also emphasizes the importance of context-specific policy design, considering cultural, geographic, and socioeconomic realities that influence financial behavior and accessibility. Further, it outlines how financial inclusion enhances resilience by enabling households to better manage risks, invest in education and health, and participate meaningfully in the economy. Case studies from countries with successful inclusive finance models, such as Kenya’s mobile money revolution and India’s Jan Dhan Yojana, are examined to extract best practices and policy lessons. The paper concludes with recommendations for multi-stakeholder collaboration, capacity building, and regulatory frameworks that ensure equitable access to financial tools and knowledge. These policy-oriented strategies not only empower individuals but also strengthen national financial stability and contribute to the realization of the United Nations Sustainable Development Goals (SDGs), particularly SDG 1 (No Poverty), SDG 5 (Gender Equality), and SDG 10 (Reduced Inequality).

Keywords

Financial Inclusion, Gender Equity, Financial Literacy, Digital Finance, Economic Resilience, Marginalized Populations, Inclusive Policy, Mobile Banking, Fintech, Sustainable Development.

Citations

IRE Journals:
Comfort Iyabode Lawal , Solomon Christopher Friday , Damilola Christiana Ayodeji , Adedamola Sobowale "Policy-Oriented Strategies for Expanding Financial Inclusion and Literacy Among Women and Marginalized Populations" Iconic Research And Engineering Journals Volume 7 Issue 4 2023 Page 660-683

IEEE:
Comfort Iyabode Lawal , Solomon Christopher Friday , Damilola Christiana Ayodeji , Adedamola Sobowale "Policy-Oriented Strategies for Expanding Financial Inclusion and Literacy Among Women and Marginalized Populations" Iconic Research And Engineering Journals, 7(4)