Establishment of a Women's Bank to Empower Women

Abstract

Compared to women in the rest of South Asia, Sri Lankan women actively participate in the country's financial activities to reduce poverty gradually. They have almost universal literacy, the ability to progress, and access to economic possibilities. Due to their combined efforts, rural women founded the Sri Lankan Women's Bank, an efficient poverty reduction and economic development tool. This study examines how women interact with banking project operations in a setting where socioeconomic, economic, and cultural barriers limit women from participating in economic activities. The study's objectives are met through a literature review, thematic analysis, in-depth interviews, and observations. Primary data was gathered through in-depth interviews with rural women affiliated with the Sri Lankan Women's Bank. The qualitative data was analysed and organised topically with specific goals in mind. According to the findings of this study, working on project activities and working as a team through main activities boosts rural women's capacities. Women's banks use management activities to make decisions and distribute resources among their members. Furthermore, this research revealed that rural women's collectives responded to the demand for diversity by prioritising the development of money to eliminate poverty in the country. According to the author, the findings of this study will aid decision-makers, politicians, workshop designers, government officials, and other social project organisers in building women-centred initiatives and gaining national recognition for community-driven social projects in the country.

KEYWORDS: Women, Banking, Empowerment, Sri Lanka