In Nepal, Banking Industry Leads Women’s Empowerment Efforts, Nepali Women in Finance, Nepali Market Progress, Nepal Women Workforce, Nepal Banking Gender Equality, Nepal Business News,
Nepal’s banking sector is paving the way for women’s empowerment despite social challenges in the patriarchal society. A recent report by the International Finance Corporation (IFC) unveils Nepal’s leading role in South Asia in terms of women’s representation in commercial banks’ workforce.
The report titled ‘Women’s Advancement in Banking in Emerging South Asian Countries’ sheds light on Nepal’s commendable achievement. In the financial services industry, women constitute a substantial 45 percent of employees, significantly surpassing the regional average of 20 percent.
Commercial banks in Nepal boast impressive figures too, with women occupying 42 percent of all roles, outperforming neighboring countries like Sri Lanka and Bangladesh. Moreover, Nepal stands out with a robust legal framework promoting women’s economic participation, including laws guaranteeing parental leave and prohibiting workplace discrimination based on gender.
Martin Holtmann, IFC Country Manager for Nepal, Bangladesh, and Bhutan, underscores Nepal’s progressive policies, acknowledging the need for further strides towards gender parity in leadership positions.
However, despite the overwhelming representation of women at entry levels, the report highlights a stark gap in senior management roles. Only 23 percent of women progress to senior positions, signaling the necessity for more opportunities and support for women’s advancement in the banking industry.
Anupama Khunjeli, former CEO of Mega Bank Nepal, emphasizes the societal challenges women face, including the struggle to balance career aspirations with family responsibilities. She notes the lingering patriarchal mindset affecting men’s acceptance of women in leadership roles.
While Nepali women demonstrate sincerity in their jobs and low involvement in fraudulent activities, societal norms often impede their career progression. Despite these challenges, Nepal’s banking sector remains a beacon of hope for women’s advancement, setting a precedent for the region.
As Nepal continues its journey towards gender equality in the banking sector, collaborative efforts from policymakers, financial institutions, and society at large are crucial to realizing the full potential of women in leadership roles.
