The youth's perception on the role of Grameen Bank in empowering rural women in Bangladesh

Abstract

Historically women in Bangladesh especially in rural areas are deprived socially and economically. To achieve sustainable development goals in Bangladesh, women especially in rural areas should be empowered. Microfinance is introduced by Dr. Muhammad Yunus to alleviate poverty by focusing on women empowerment. Now it is considered a revolutionary invention to remove poverty from society and also empower women. Grameen Bank is an institution which is made only for the poor people and its location is in the villages to reach all the rural women in Bangladesh. Grameen Bank indeed empowers women but women in rural areas in Bangladesh are still not empowered as expected. The purpose of this study is to examine critically from the perspective of youth in Bangladesh on Grameen Bank’s experience in empowering rural women in Bangladesh. This study emphasizes the factors behind women empowerment and identifies the role of Grameen Bank in empowering rural women in Bangladesh. The factors are poverty reduction, women education, women employment, women entrepreneurship development and women’s skill development at work. In this study, the need for Grameen Bank’s service in helping the rural women to improve their economic condition is the main focus. The necessity of women education is mentioned which is provided by Grameen Bank to educate their women borrowers to utilize their loans properly. This paper highlights the impact of Grameen Bank on women skill development at work so that they are empowered, and reveals the bank’s role in qualifying them for employment. Moreover, the role of Grameen Bank in making women entrepreneurs is also emphasized. The current study is a quantitative research with a sample size of 267 and the hypotheses are tested through various statistical methods such as reliability analysis, exploratory factor analysis, correlation analysis (PEARSON) and multiple regression analysis by using SPSS. Out of the five hypotheses, three were supported. The result shows that there is a positive relationship between women education and women empowerment and there is a significant outcome. That means Grameen Bank’s initiatives to educate women can empower them. Another significant factor is women entrepreneurship. The result shows that there is a positive relationship between women entrepreneurship and women empowerment. This means that Grameen Bank’s impact on creating women entrepreneurs can empower them. The last factor which was supported is women skill development at work. This also means that Grameen Bank’s role enhances women skill development at work thus empowering them. The last two hypotheses which are poverty reduction and women employment are not supported. That means Grameen Bank should improve their roles in these two hypotheses to empower women.