CONCEPTUAL REVIEW OF MICROFINANCE AND WOMEN HOUSEHOLD, ECONOMIC, AND SOCIAL EMPOWERMENT OF MICROFINNACE BORROWERS

Keywords: Microfinance and Women Household, Economic, and Social Empowerment Choice.

Abstract

The poor women are ignored in most parts of the society, having no opportunities for self-sufficiency, losing of their self-confidence and self-supporting; in turn, leads to suffer of their psychological, social, and mental health problems. Therefore, the study aims to investigate rigorous review of literature on the women empowerment for developing of a conceptual framework of microfinance and women household, economic, and social empowerment of the microfinance borrowers in the world. The present study used existing available materials and resources from reputed online data based such as google scholar, science direct, Scopus, web of science data based etc.  The present study findings revealed that the poor women are marginalized, lack chances for self-sufficiency, and depend on charity or welfare. Without means to support themselves, poor women lose their self-confidence, and this disposition can lead to psychological, social, and mental problems. The study also found that the women can be empowered through encouraging and developing skills for self-sufficiency.  The study also revealed that the major problems facing the poor and the lower-income group was access to credit. Their lack of assets for collateral and financial records, and limited credit history make obtaining credit from formal financial institutions almost impossible. The concluded that the Microfinance can be a powerful and effective way of access to credit of the poor has been rapidly expanding in hopeless and helpless societies accordingly. Finally, the present study developed a conceptual framework based above summary of findings to do a practical investigation to further examine the relationship between microfinance and women household, economic, and social empowerment of the microfinance borrowers in the world.

JEL Classification Codes: F65.

Author Biographies

Tasnuba Haque

Lecturer, Faculty of Business and Accountancy, Universiti Selangor, Shah Alam, Malaysia

Chamhuri Siwar

Professor Emeritus & Senior Research Fellow at Institute for Environment and Development, Universiti Kebangsaan Malaysia, Bangi - 43600,  Selangor, Malaysia

Abul Bashar Bhuiyan

Associate Professor, Faculty of Business and Accountancy, University Selangor, Shah Alam, Malaysia

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Published
2022-12-30
How to Cite
Haque, T., Siwar, C., & Bhuiyan, A. B. (2022). CONCEPTUAL REVIEW OF MICROFINANCE AND WOMEN HOUSEHOLD, ECONOMIC, AND SOCIAL EMPOWERMENT OF MICROFINNACE BORROWERS. Asian Finance & Banking Review, 6(1), 33-41. https://doi.org/10.46281/asfbr.v6i1.1891
Section
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper