Gender Norms and Financial Regulation: The Case for Gender Lens Regulatory Analysis

To advance women's financial inclusion, financial sector regulators must recognize that women and men face different lived realities when they engage with the financial sector. In many countries, large gender gaps persist in access to formal accounts. Other countries have narrowed gender gaps in access to financial accounts, yet usage of these accounts, access to credit, and leveraging digital payment mechanisms remain unequal. Gender-based patterns also emerge when comparing the use of formal vs. informal financial institutions (Klapper, Singer, and Ansar 2021). Treating women and men equally under the law and according to regulation does not equally benefit them in terms of outcomes because their experiences in engaging with the financial sector differ. Women and men have unequal access to and control over material and nonmaterial resources and assets, as well as differentiated access to various locations and institutions. Gender-neutral regulation is often gender blind.

This Working Paper provides a framework to assess the nexus of gender norms and financial regulation, outlining how regulatory frameworks and supervisory practices can impact women and men differently. It aims to motivate financial sector regulatory authorities to move from gender blind to gender intentional approaches.