Are Women SHG Members Financially Socialized? Scientific Mapping of Financial Socialization of Women SHG Members

Women constitute half of the global population, and their well-being is indispensable for economic growth and societal stability. The financial inclusion of women is a cornerstone of their economic empowerment (Bull & Garita, 20211 ) and plays a pivotal role in advancing multiple Sustainable Development Goals (SDGs2 ), particularly Goal 5, which focuses on achieving gender equality. Ensuring women’s equal access to financial services can significantly contribute to reducing poverty and inequality, creating employment opportunities, and fostering inclusive societies (AFI, 20173 ; IMF,20224 ). Moreover, incorporating women as users, providers, and regulators of financial services enhances stability within the banking system (IMF,20235 ). Despite considerable advancements in financial services and technological innovation, a pronounced gender gap in financial inclusion persists globally (Chen et al., 20216 ; IMF, 2023b7 ). The Global Findex Report, 2021,8 indicates that the gender gap in account ownership in developing countries exceeded 5% in 2021, with significantly larger disparities in SouthAsia, the Middle East, and Africa, where gaps range between 13 and 20 percentage points. These enduring gender disparities underscore the urgency for policymakers to prioritize initiatives promoting women’s financial inclusion. Sustainable development is achievable only when resources are equally distributed and accessible, irrespective of sex (Kandpal, 20229 ). This gender disparity in financial inclusion not only limits individual women’s economic opportunities but also hampers broader economic growth and social advancement (Demirgüç-Kunt et.al, 202210; IMF, 2023c11). Bridging these gaps necessitates a multifaceted approach re-encompasses targeted policies, financial education programs, and innovative technologies tailored to women’s needs