Nature
Discrimination against women in banking refers to the pervasive bias and unequal treatment experienced by women in the banking industry solely based on their gender. Despite significant progress in gender equality, women continue to face numerous challenges and limitations in the banking sector. Women often encounter barriers in career advancement, with limited opportunities for leadership roles or representation on executive boards. They also frequently receive lower salaries and benefits compared to their male counterparts, and may face gender-based stereotypes and biases that hinder their professional growth. Discrimination against women in banking prevents the industry from harnessing the full potential of talented women, perpetuating a cycle of inequality that must be addressed.
Incidence
Discrimination against women in banking remains a critical global problem. According to a report by the International Monetary Fund (IMF), women hold only 2% of CEO positions and 20% of board seats in banks worldwide. Furthermore, the gender pay gap in the financial sector is alarming, with women earning, on average, 32% less than their male counterparts. Additionally, a study conducted by the World Bank reveals that women face significant barriers in accessing loans and capital, with only 37% of women entrepreneurs having access to formal financial services. These statistics highlight the urgent need for comprehensive measures to address gender discrimination and promote equal opportunities for women in the banking industry.