A ida, Yen i e al.
A icle
Economic empowe men o unbanked women h ough
inancial inclusion in Indonesia
Cogen Business & Managemen
P o ided in Coope a ion wi h:
Taylo & F ancis G oup
Sugges ed Ci a ion: A ida, Yen i e al. (2024) : Economic empowe men o unbanked women h ough
inancial inclusion in Indonesia, Cogen Business & Managemen , ISSN 2331-1975, Taylo & F ancis,
Abingdon, Vol. 11, Iss. 1, pp. 1-19,
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Economic empowe men o unbanked women
h ough financial inclusion in Indonesia
Rozalinda, Yen i A ida, I wan Abdullah, Zaenuddin Hudi P asojo, Mu hia
Ul ah, Pu i Ananda Saka & Jumni Nelli
To ci e his a icle: Rozalinda, Yen i A ida, I wan Abdullah, Zaenuddin Hudi P asojo, Mu hia
Ul ah, Pu i Ananda Saka & Jumni Nelli (2024) Economic empowe men o unbanked women
h ough financial inclusion in Indonesia, Cogen Business & Managemen , 11:1, 2407921, DOI:
10.1080/23311975.2024.2407921
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Banking & Finance | ReseaRch aR icle
Cogen Business & ManageMen
2024, VoL. 11, no. 1, 2407921
Economic empowe men o unbanked women h ough inancial
inclusion in Indonesia
Rozalindaa, Yen i a idaa, i wan abdullahb, Zaenuddin hudi P asojoc, Mu hia Ul aha,
Pu i ananda sakab and Jumni nellid
aFacul y o islamic economics and Business, s a e islamic uni e si y imam Bonjol, Padang, indonesia; bFacul y o Cul u al
sciences, gadjah Mada uni e si y, Yogyaka a, indonesia; cs a e islamic ins i u e (iain) o Wes Bo neo indonesia; dFacul y o
sha ia, s a e islamic uni e si y sul an sya i Kasim Riau, Pekanba u, indonesia
ABSTRACT
his s udy aims o elucida e he economic empowe men o unbanked women wi hin
he na ional Pension sa ings Bank (B Pn) sha ia, ocusing on he ole o inancial
inclusion. i in es iga es how enhanced access o inancing impac s he income and
sa ings o he women olk ope a ing home-based businesses in Wes suma a, indonesia,
using a quali a i e me hodology o del e in o he empowe men pa e n o unbanked
women a B Pn sha ia. Da a collec ion consis ed o in-dep h in e iews and
ques ionnai es, sou ced om a ious s akeholde s, such as cus ome s, communi y
o ice s, and B Pn sha ia leade s, ollowed by a ho ough quali a i e and desc ip i e
analysis. he indings showed ha he economic empowe men o unbanked women,
d i en by inancial inclusion, is achie ed h ough an ini ial membe ship aining
p og am consis ing o inancial li e acy, managemen , and sa ings. his p og am also
o e s con enien access o inancing and subsequen assis ance, all conduc ed in a
pa icipa o y manne e e ed o as ‘ba opok’, whe e women ga he in a ci cle, acing
he communi y o ice . he inancial inclusion-based empowe men model, emphasizing
easy access o inancing, has a posi i e impac on he income and sa ings o women
engaged in home indus y businesses in Wes suma a. hese indings hold signi ican
implica ions o he academic discou se on he economic empowe men o unbanked
women wi hin he amewo k o inancial inclusion in islamic comme cial banks.
IMPACT STATEMENT
gende inequali y in he inancial indus y mus be educed by inc easing women’s
inancial inclusion. he p ima y objec i e o he inancial inclusion policy is o na ow
he gende gap in inancial access o inancial ins i u ions. he economic empowe men
o unbanked women is o signi ican impo ance as hey se e as inancial manage s
wi hin households and play a c ucial ole in managing amily expenses. B Pn sha ia
empowe men o unbanked women based on inancial inclusion had a posi i e impac
on inc easing he sa ings o emales.
1. In oduc ion
indonesia emains a coun y wi h a high numbe o unbanked indi iduals who canno access banking
se ices (cicchiello e al., 2021). acco ding o he 2019 Wo ld Bank global Findex, he numbe o
unbanked indi iduals in indonesia s ands a 92 million (se iawan e al., 2021). o add ess his challenge,
he e is a need o inc ease access o he implemen a ion o inclusi e inance. Financial inclusion en ails
p o iding banking se ices a a o dable cos s o unde p i ileged and low-income g oups (kim e al.,
2018). acco ding o adzima inu and Manalu (2021), he objec i e o inancial inclusion is o elimina e
all o ms o access ba ie s o banking se ices o he communi y. he inancial inclusion index in 2021
shows ha 65% o adul women wo ldwide lack a bank accoun compa ed o 72% o men (OJk, 2021b),
© 2024 he au ho (s). Published by in o ma uK Limi ed, ading as aylo & F ancis g oup
CONTACT Rozalinda [email protected] Facul y o islamic economics and Business, s a e islamic uni e si y imam Bonjol, Padang,
indonesia.
h ps://doi.o g/10.1080/23311975.2024.2407921
his is an open access a icle dis ibu ed unde he e ms o he C ea i e Commons a ibu ion License (h p://c ea i ecommons.o g/licenses/by/4.0/), which
pe mi s un es ic ed use, dis ibu ion, and ep oduc ion in any medium, p o ided he o iginal wo k is p ope ly ci ed. he e ms on which his a icle has been
published allow he pos ing o he accep ed Manusc ip in a eposi o y by he au ho (s) o wi h hei consen .
ARTICLE HISTORY
Recei ed 28 no embe
2023
Re ised 4 sep embe
2024
accep ed 18 sep embe
2024
KEYWORDS
Financial inclusion;
economic empowe men ;
unbanked women
SUBJECTS
economics; Business;
Managemen ; Finance
2 ROZalinDa e al.
(Boukhali, 2019), (ka a e al., 2021). he le el o inancial empowe men among men ends o be highe
a 77.2% compa ed o 75.2% o women (OJk, 2019). his eali y co ela es wi h he global Findex da a,
signi ying he access o inance gap be ween women and men (ib asam e al., 2018), (hend iks, 2019a).
he e o e, analyzing his dispa i y u he by s udying policies o women’s economic empowe men
based on economic in eg a ion is essen ial.
se e al s udies ha e been conduc ed on inancial inclusion, wi h a minimum o h ee pa e ns iden-
i ied. Fi s , he publica ion desc ibes he implemen a ion as a s a egy o de elopmen and economic
s eng hening (W. chen & Yuan, 2021; Malik e al., 2022; am e al., 2023). second, exis ing s udies end
o discuss de e minan s o ac o s con ibu ing o he success o inancial inclusion ealiza ion (Bekele,
2023; P akoso, 2022; Rashdan & eissa, 2019). Finally, he e is a end in he publica ions ocusing on he
impac s on ulne able g oups such as he poo and women in gene al (cabeza-ga cía e al., 2019;
Du endack & Made , 2020; elzahi saaid ali, 2022). s udies speci ically connec ing inancial inclusion wi h
he economic empowe men o unbanked women emain limi ed. Few explain emale empowe men
(Bha ia & singh, 2019), and ba ie s o educa ion impeding he access o inance o unbanked women
(sabic-el-Rayess, 2019). he e o e, his s udy aims o complemen exis ing s udies ocusing on he impac
o inancial empowe men o unbanked women on he income and sa ings o p oduc i e poo women
a B Pn sha ia.
he mapping o p e ious s udies shows ha publica ions on inancial inclusion do no ex ensi ely
ocus on gende aspec s. his gap se es as a mo i a ion, pa icula ly because he e is limi ed esea ch
examining he impac o inancial empowe men on unbanked women. he need o empi ical e idence
explaining he impac on p oduc i e poo unbanked women is also mo i a ed. a comp ehensi e s udy
on his issue will p o ide aluable in o ma ion o he go e nmen including he policymake s, inancial
ins i u ions, and non-go e nmen al o ganiza ions in o mula ing and implemen ing mo e e ec i e inan-
cial inclusion p og ams o women.
his s udy aims o elucida e he economic empowe men o unbanked women a he na ional Pension
sa ings Bank (B Pn) sha ia, based on inancial inclusion, and assess i s impac on he income and sa -
ings o emales engaged in home indus y businesses. in indonesia, he ocus is on he o ms and
impac s o inancial inclusion implemen ed by B Pn sha ia in h ee esul s. Fi s , he ealiza ion h ough
li e acy men o ing is p o ided di ec ly o unde p i ileged unbanked women. Financial li e acy is u he
in oduced o his g oup be o e becoming cus ome s o he bank. second, p o iding easy access o
inancing o unbanked women om unde p i ileged backg ounds which u he impac women’s income
posi i ely. hi d, he pa e n o inancial inclusion implemen ed by B Pn sha ia has a posi i e implica ion
o de eloping a sa ing cul u e among women. awa eness o sa ings’ impo ance and access o inancial
acili ies empowe s women, leading o p ospe i y. he e o e, s udies on he economic empowe men o
unbanked women a e highly ele an o inancial inclusion.
he heo e ical signi icance o his s udy will p o ide an o e iew o he economic empowe men o
unbanked women conduc ed by B Pn sha ia in indonesia in he amewo k o inancial inclusion.
P ac ically, he con ibu ion is made o he de elopmen o knowledge in he ield o inancial inclusion
o women in enhancing amily economic wel a e. he impo ance lies in he access o women
mic o-en ep eneu s o he o mal inancial sec o . acco ding o he na ional su ey Resul s on Financial
li e acy and inclusion (snlik) in 2022, app oxima ely 27% o women ha e access o inancing om o -
mal comme cial banks (kaca ibu, 2022). among all he banks, B Pn sha ia is commi ed o empowe ing
indonesian women mic o-en ep eneu s by olling ou p og ams o s eng hen he capaci y o unbanked
communi ies. in he hi d qua e o 2023, B Pn disbu sed mone a y assis ance amoun ing o iDR 11.9
illion (B Pns, 2024) o he communi ies. in his si ua ion, he bank con inuously s i es o empowe
women conside ed unbankable o gain be e access o he inancial sec o and o he economic esou ces.
he e o e, u he s udies on inclusi e inancial policies a e essen ial.
he s udy is based on an a gumen ha inancial inclusion policies implemen ed by banks signi i-
can ly con ibu e o women’s empowe men . access o inance has become an impo an de elopmen
s a egy wo ldwide o imp o e indi idual iscal well-being, educe po e y, and s imula e economic
g ow h (Zins & Weill, 2016a). he policies aim o educe gende gaps in access o inancial acili ies and
ins i u ions. empowe ing unbanked women economically is impo an because emales a e household
inancial manage s ( sai, 2016). in indonesia, an islamic bank conce ned wi h e o s o empowe
cOgen BUsiness & ManageMen 3
unbankable women economically is B Pn sha ia ( au iq e al., 2022), B Pnsha ia, 2020). he bank ope -
a es based on he p inciples o inancial inclusion by p o iding g an s o economically disad an aged
unbankable women (Da ussalam e al., 2021). economic empowe men o unbanked women can acili-
a e access o inancing o p oduc i e poo emales. he e o e, inc easing emales’ access h ough inan-
cial inclusion policies will impac he empowe men o women.
2. Li e a u e e iew
2.1. Financial inclusion
Financial inclusion ep esen ed he a ailabili y and equal oppo uni y o access a wide ange o inancial
se ices, including sa ings, c edi , paymen , and isk managemen p oduc s, o bo h indi iduals and
companies, wi h a speci ic ocus on low-income communi ies, mic o and small en e p ises (W. chen &
Yuan, 2021) (Boukhali, 2019). esqui ias e al. (2020) and Bank (2019) de ined inancial inclusion as ha ing
access o o mal iscal se ices o sa ings, bo owing, o conduc ing comme cial ansac ions a compe -
i i e cos s. allen e al. (2016) iden i ied se e al ac o s ha de e ed indi iduals om using o mal inan-
cial se ices, such as he emo e loca ion o banks and he high accoun -opening cos s. elzahi saaid ali
(2022) and ib asam e al. (2018) con ended ha inancial inclusion included a combina ion o ini ia i es
aimed a making inancial se ices a ailable, accessible, and a o dable o all segmen s o socie y, such
as women, you h, u al communi ies, and disad an aged g oups. his was consis en wi h he pe spec-
i es o kling e al. (2020) and se e e al. (2023) which pe cei ed he inclusion as an inno a i e mech-
anism ha p o ided inancial access o add ess income inequali y (cabeza-ga cía e al., 2019; kebede
e al., 2023; lal, 2021). he e o e, inancial inclusion ep esen ed a undamen al inancial concep ha
ensu ed access o banking p oduc s and se ices o all communi ies.
in line wi h Yaumidin e al. (2017) pe spec i e, inancial inclusion should engage he pa icipa ion o
women, and he de elopmen o inclusi e inance should se e as a means o empowe men . he
empowe men o women became an impo an agenda o de eloping coun ies in hei pu sui o eco-
nomic ad ancemen . he inancial inclusion o women ma e ialized when access was gained o a di e se
ange o banking p oduc s and se ices. he global Findex measu ed access o inance based on he
pe cen age o he adul popula ion wi h a bank accoun (Demi guc, 2021). howe e , economic empow-
e men o women ends o be challenging o achie e. social cons uc ions domina ed by men such as
he psychological aspec s, low income, lack o inancial li e acy and accessibili y, as well as e hnici y we e
majo obs acles o women’s empowe men h ough inancial inclusion e o s (saluja e al., 2023).
esqui ias e al. (2020) also assessed ha signi ican dispa i ies in capi al access occu ed due o gende ,
income, educa ion, and loca ion o he applican s. Besides hese ac o s, low educa ion le els among
women posed ano he cons ain (aslan, 2022). he e o e, empowe ing women h ough inancial inclu-
sion became an essen ial agenda o de eloping coun ies o add ess economic de elopmen lag (ade a
& abdisa, 2023; aziz e al., 2022; chaudha y & kuma i, 2022).
2.2. Economic empowe men
empowe men was a p ocess o in e nal change in which indi iduals who lacked he powe o make
choices acqui ed he abili y o ake ac ion and become awa e o hei po en ial (Xhene i e al., 2019). in
he con ex o women, economic empowe men e e ed o s a egies used in decision-making, asse
owne ship, and income enhancemen (Mengs ie, 2022). economic empowe men o women assis ed in
ensu ing gende equali y, na ional p ospe i y, and basic amily needs (kuma & godana, 2023). his con-
cep could be obse ed in a minimum o six dimensions, namely en i onmen al quali y, economic i al-
i y, educa ion & skills de elopmen , heal h, social, poli ical, and cul u al en i onmen , as well as secu i y
(g essel e al., 2020). agga wal e al. (2020) emphasized empowe men in decision-making, equal ea -
men igh s, economic independence, inhe i ance, and p o ec ion agains gende bias, po en ially educ-
ing disc imina ion in accessing esou ces such as educa ion, in o ma ion, and he economy.
he economic empowe men o women e ol ed as an impo an componen o he sus ainable de el-
opmen goals (sDgs) (egge s del campo & s eine , 2022). acco ding o cabeza-ga cía e al. (2019), he
4 ROZalinDa e al.
au onomy o women had a posi i e impac on hei en ep eneu ial capaci y, in es men , and u u e plan-
ning. Women’s inancial inclusion was measu ed by access o bank accoun s and c edi ca ds (choza i a
e al., 2023). limi ed access o inancial p oduc s u he ma ginalized women and inc eased gende
inequali y (kee hikuma a & kuma i, 2023). hend iks (2019b) also asse ed ha women’s access o pe sonal
sa ings accoun s enhanced economic esilience by inc easing sa ings, enabling inancial choices, and
enhancing ba gaining powe in households. Fu he mo e, (Mo gan & long, 2020) a gued ha inancial
inclusion se ed as a de e minan o economic g ow h and po e y educ ion. Financial inclusion could also
inc ease sa ings, in es men s, businesses, empowe women, and imp o e heal h (Bha acha ya, 2019).
2.3. Unbanked women
he e m ‘unbanked’ e e ed o indi iduals who we e wi hou sa ings o bank accoun s (Ba cellos &
Zama o, 2021), he eby limi ing hei access o inancial se ices (Bongomin e al., 2023). i also ep e-
sen ed a condi ion o an indi idual o en i y lacking access o banking se ices o simila inancial ins i-
u ions (Ven u a, 2021). hese indi iduals o en aced challenges in secu ing loans, making ansac ions,
o e en sa ing money in a adi ional banking en i onmen . sabic el-Rayess’s a icle indica ed ha 2
billion adul s wo ldwide s ill lacked a bank accoun , wi h a p onounced gende dispa i y, pa icula ly
a ec ing impo e ished women. in e es ingly, e en when women had access o inancial se ices, many
we e eluc an o ac i ely engage wi h hei bank accoun s (sabic-el-Rayess, 2019). his was due o low
le els o women’s educa ion (loaba, 2023) and inancial li e acy caused by sel -e icacy, isk a e sion,
sel -con idence, and socioeconomic s a us o women (Wes e al., 2020).
Ven u a (2021) obse ed ha he unbanked indi iduals sha ed simila cha ac e is ics ac oss egions
wi h low income as well as educa ion le els and o en lacked he iden i ica ion and documen a ion
equi emen s o open a bank accoun . he indi iduals end o li e in u al a eas a om bank b anches.
in many coun ies, his g oup o igina ed om mino i y e hnic o eligious g oups wi h majo i y being
women (Ven u a, 2021). Disc imina o y banking egula ions agains women we e also a signi ican ac o
allowing eluc an o access bank accoun s (de and és e al., 2021; Mo sy, 2020). he e was a signi ican
gap be ween men and women in accessing bank c edi . Men we e known o be mo e inancially engaged
han women (kede ndouna & Zogning, 2022).
accessing sa e inancial acili ies posed challenges o unbanked women, which impac ed he abili y
o sa e and es ablish businesses o sus ainable li elihoods (Mane h Pol, 2022). Financial inclusion was
widely ecognized as an inno a i e mechanism o add ess he inequali y o access o women. i signi i-
can ly impac ed sa ings (chak abo y & ab aham, 2021), which we e connec ed o pe capi a income
g ow h. Owne ship o sa ings accoun s signi ican ly inc eased he pe capi a income g ow h o he coun-
y (khai ina e al., 2021). e o s o enhance women’s access o inancial se ices included g an s o
women-owned small and medium-sized en e p ises, p omo ing in es men , and adjus ing iscal p oduc s
as well as se ices o mee needs (Bialus e al., 2022). Owne ship o sa ings accoun s and access o
inancial acili ies also imp o ed women’s li ing s anda ds and economies (O. a olabi & R. akinlolu, 2021).
his co ela ed wi h i elli e al. (2018) which emphasized he impo ance o inancial inclusion o
women o access loans, conduc ansac ions, sa e, and build asse s secu ely. he e o e, empowe ing
women h ough inancial inclusion had a signi ican impac on add essing he challenges aced by
unbanked women.
3. Me hodology
he s udy ob ained e hical app o al om he ins i u e o Resea ch and communi y se ice (lPPM),
imam Bonjol s a e islamic Uni e si y, Padang wi h he e e ence numbe B.78/Un.13/lP2M/07/2021
accompanied by a le e o pe mission om P B Pn sya iah. all p ocedu es ca ied ou in his s udy
adhe ed o he e hical s anda ds se by he ins i u ion’s e hics commi ee. all pa icipan s we e in o med
abou he pu pose o he s udy by pa icipa ing h ough in e iews and ques ionnai es wi h he iden i-
ies being con iden ial. he expe s we e commi ed o p o ec ing he p i acy and he con iden iali y o
pe sonal in o ma ion. addi ionally, he expe s asked o pe mission om pa icipan s e bally and in
w i ing ega ding he publica ion o he s udy esul s.
cOgen BUsiness & ManageMen 5
his s udy was conduc ed as a Di ec obse a ion using a quali a i e app oach in B Pn sha ia, si u-
a ed in Wes suma a and Riau P o ince, indonesia. B Pn sha ia was selec ed due o i s unique ocus on
he economic empowe men o unbanked women. conduc ed in 2021 du ing he cOViD-19 pandemic.
he s udy ocused on he economic empowe men o unbanked women a B Pn sha ia, examining he
impac o inancial inclusion on income and sa ings. he scope included women en ep eneu s in he
home indus y in Wes suma a, indonesia.
he da a ypes included p ima y and seconda y sou ces which o e ed a comp ehensi e unde s and-
ing o he s udy. P ima y da a was ob ained h ough obse a ions, in e iews, and ques ionnai es while
seconda y in o ma ion we e sou ced om he annual Repo o B Pn sha ia. Pa icipan s in his s udy
included a B anch Manage o B Pn sha ia, a ma ke ing s a membe , 10 communi y o ice s, and 100
cus ome s. he sample o he pa icipan s was de e mined using he o al sampling me hod based on
he highes numbe o cus ome s. Fu he mo e, pa icipan s we e selec ed h ough sa u a ion sampling
wi h all a ea cus ome s designa ed as ‘in o man s’ as desc ibed in able 1.
his s udy ini ially obse ed he basic membe ship aining p ocess and subsequen ly pe cei ed he
cus ome men o ing p ocess du ing ou ine cen e mee ings. in e iews we e u he conduc ed o p o-
ide deepe insigh s in o how B Pn sha ia’s empowe men model was implemen ed o unbanked
women. he in e iew was ini ia ed wi h gene al ques ions, such as inqui ies ega ding he pa e n o
cus ome assis ance bo h be o e and a e ob aining inancing, he a e age mon hly income al e a ion
esul ing om B Pn sha ia’s inancial suppo , and he mon hly sa ings de i ed om business p oceeds.
o collec da a conce ning income and sa ings, cus ome s we e eques ed o comple e open-ended
ques ionnai es and all esul s we e eco ded.
he alidi y o he da a was sc u inized h ough pa icipan ex ension and iangula ion. Da a
ob ained om in e iews unde wen a quali a i e analysis, ollowing a s uc u ed app oach consis -
ing o se e al s ages, namely (1) O ganizing he da a, which included ca ego izing he collec ed
da a, (2) comp ehensi e eading and no ing, consis ing o a ho ough e iew o all da a, anno a ing
ma ginal no es, and ini ial code o ma ion, (3) Desc ibing da a h ough codes and hemes, whe e
he cus ome expe iences and he essence o he empowe men p ocess execu ed by B Pn sha ia
we e delinea ed, (4) classi ying da a in o codes and hemes, du ing which signi ican s a emen s
we e u he de eloped in o uni s o meaning, (5) in e p e ing he da a, en ailing he de elopmen
o a comp ehensi e desc ip ion o he empowe men p ocess and i s implica ions, and (6) P esen ing
he essence and i s e idence h ough na a i es, ables, igu es, and discussions (c eswell, 2018;
Mohajan & Mohajan, 2018).
4. Findings
he sha ia comme cial bank in indonesia was known o be B Pn sha ia, ocused on p o iding inclusi e
banking se ices by empowe ing p oduc i e and unde p i ileged women cus ome s h ough inancing
access wi h men o ship. in sep embe 2023, he bank eco ded 4.3 million ac i e cus ome s in 258,000
communi ies sp ead ac oss 2,600 dis ic s in indonesia (B Pns, 2023). By 2023, he o al inancing dis-
bu sed eached iDR11.39 illion, wi h hi d-pa y unds o aling iDR 12.14 illion. Fu he mo e, he o al
asse s o he bank amoun ed o iDR 21.44 illion (B Pns, 2024). B Pn sha ia designed a ious p og ams
o empowe women and ga e mo i a ion o become mo e sel - elian , including (1) P ope sha ia
Financing, (2) empowe men p og ams such as Daya and Bes ee, and (3) incen i es and app ecia ion
such as Um ah (B Pns, 2023).
Table 1. Dis ibu ion o pa icipan s.
no a ea o BP n sha ia o al cus ome
1B Pn sha ia in Padang a ea 15
2B Pn sha ia in solok a ea 18
3B Pn sha ia in Padang Panjang a ea 11
4B Pn sha ia in Buki inggi a ea 23
5B Pn sha ia in Pesisi sela an a ea 11
6B Pn sha ia in Pekanba u a ea 22
6 ROZalinDa e al.
4.1. Pa icipan s’ desc ip ion
Pa icipan s in his s udy we e B Pn sha ia cus ome s, speci ically women mic o-en ep eneu s. hese
women engaged in a ious businesses wi h di e se educa ional backg ounds and eligious a ilia ions as
desc ibed in able 2.
he ypes o businesses engaged by emale cus ome s o B Pn sha ia we e di e se, as desc ibed in
able 3. his di e si y e lec ed he a ied en ep eneu ial e o s pu sued by he women.
4.2. Financial li e acy assis ance
Being he only islamic comme cial bank dedica ed o he empowe ing o p oduc i e ye unde p i ileged
women, P B Pn sha ia ( bk) ex ended i s e o s beyond he me e dis ibu ion o inancing o i s cus-
ome s. he bank also p o ided comp ehensi e aining and men o ing p og ams o i s clien ele. as elu-
cida ed by in o man a (25 yea s old), a communi y O ice (cO) a B Pn sha ia Buki inggi, ‘empowe men
was impa ed o cus ome s o equip hem wi h inancial knowledge and he capaci y o enhance he
businesses, e en ually ele a ing he wel a e o he amily’. Dis inc i ely, he p ocess o cus ome empow-
e men a B Pn sha ia commenced a he P eMa ke ing s age, unde aken by he Mobile Ma ke ing
sen a (MMs) eam. in o man c (27 yea s old), a cO a B Pn sha ia solok, unde sco ed, ‘ he eam
ob ained in o ma ion wi hin he illages o iden i y women eligible o inancing. his p ocess was ol-
lowed by a Mini Mee ing (MM), and subsequen ly, he MMs eam conduc ed a ho ough su ey o he
p ospec i e esidence o he cus ome ’. he nex s age, known as he P ojec ion Mee ing (PM), played a
c ucial ole in he empowe men p ocess. acco ding o in o man Y (26 yea s old), a cO B Pn sha ia
Padang, ‘Du ing he PM, he MMs eam p o ided a comp ehensi e explana ion o he pu pose, bene i s,
and inancing e ms o e ed by B Pn sha ia. addi ionally, he eam mo i a ed women o mus e he
cou age o en u e, main ain discipline, wo k diligen ly, and ex end suppo o one ano he ’. a mo e
de ailed unde s anding o he empowe men model implemen ed by B Pn sha ia is shown in able 4.
he empowe men o women om p e-p ospe ous amilies commenced be o e becoming cus ome s,
ini ia ed du ing he Basic Membe ship aining (PDk). his aining consis ed o he p o ision o inancial
li e acy ma e ials, basic banking knowledge, an in oduc ion o he p oduc s o B Pn sha ia, and a
Table 2. Desc ip ion o educa ion, age, and leng h o business o B Pn sha ia Cus ome s.
educa ion age Leng h o business income
educa ion o al age o al Leng h o Business o al income o al
Bachelo ’s Deg ee 8>60 yea s old 11–5 yea s 47 <1.9 million 32
associa e Deg ee 450–59 yea s old 18 6–10 yea s 28 2–2.9 million 21
senio High school 54 40–49 yea s old 37 11–15 yea s 11 3–3.9 million 30
Junio High school 19 30–39 yea s old 38 15–20 yea s 94–4.9 million 12
elemen a y school 13 29 yea s old 7>20 yea s 5>5 million 5
no school 2
sou ce: Ques ionnai e, 2021.
Table 3. Businesses ypes o cus ome s.
ypes o businesses o al cus ome
Food/Be e age 31
ading/P & D 42
Fashion 8
Laund y se ices 5
Fa ming 4
online shop 2
ailo ing 2
secondhand goods 1
Be el nu 1
Plas ic 1
Fish 1
Cell phone coun e 1
elec onic c edi 1
sou ce: Ques ionnai e, 2021.
cOgen BUsiness & ManageMen 7
comp ehensi e unde s anding o he bene i s o sha ia Financing. PDk was conduc ed o ensu e ha
emale cus ome s comp ehended he pu pose o inancing a B Pn sha ia. cus ome s ecei ed educa ion
on bo h business and household inancial managemen . addi ionally, men o ing was p o ided a e cus-
ome s had ob ained inancing, as pa o he sen a Rou ine Mee ing, which ea u ed en ep eneu ial
guidance.
cus ome s who had comple ed he basic membe ship aining could apply o inancing by illing ou
he Financing applica ion and accoun Opening Fo m (aP3R), as explained by he Business Manage o
B Pn sha ia Padang Ra (27 yea s old). Financing disbu semen occu ed a e he aP3R o m was
app o ed by he leade ship o B Pn sha ia. he inancing p oduc o his mic o- inancing was mu aba-
hah inancing, using mu abahah bil wakalah con ac . he g an s ecei ed we e used o business capi al
h ough he pu chase o suppo ing business goods. acco ding o he ag eemen , cus ome s we e
equi ed o p o ide de ailed explana ions and p ices o he goods o be pu chased and o make pay-
men s e e y wo weeks. Mu abahah bil wakalah con ac was execu ed indi idually du ing ou ine cen e
mee ings, wi nessed by he cen e chai pe son and a membe . Following he endi ion o he con ac
by he communi y O ice (cO), he cus ome and wo wi nesses would sign he inancing con ac a e
which he inancing would be disbu sed. cus ome s we e equi ed o submi pu chase eceip s o he
bank a e acqui ing i ems o he business needs. he inancing pe iod spanned a yea o 26 ins all-
men s, wi h each cus ome g an ed exemp ion om an ins allmen du ing he eid al-Fi holiday a
B Pn sha ia.
Based on obse a ions du ing he sen a Rou ine Mee ing, cus ome s and communi y O ice s (cOs)
sa oge he in a pa icula manne known as ‘duduak ba opok’, whe e hey con ened in a ci cle o
discussions o delibe a ions (Bas i e al., 2022; Rahmadani e al., 2021). his model o ‘duduak ba opok’ is
isually ep esen ed in Figu e 1.
all he PDk sen a Rou ine Mee ings we e conduc ed using he ‘ba opok’ model, wi h he emale
cus ome s sea ed in g oups on he loo , acing he communi y O ice . he cO also sa on he loo ,
acing he cus ome s, commencing he session by eci ing he g ee ings. subsequen ly, hey p oceeded
o collec he inancing ins allmen s and sa ings deposi s o he cus ome s. Following his, he cO
ac i ely engaged in acili a ing business de elopmen inno a ions o he cus ome s, ma king a dis inc-
i e ea u e o B Pn sha ia compa ed o o he banks. Meanwhile, mos cus ome se ices ypically main-
ain an execu i e appea ance a he bank o ice, B Pn sha ia adop ed a down- o-ea h app oach, se ing
cus ome s a he houses o hei g oup leade , e e ed o as sen as.
he sen a Rou ine Mee ing by ‘duduak ba opok’ se ed as a pla o m o ob ain in o ma ion,
add ess aspi a ions, and ind solu ions o challenges aced by p oduc i e unde p i ileged women.
he e a e so many hings ha can be explo ed and communica ed o women B Pn sha ia cus ome s
o hei economic e i al. his was a wo-way communica ion discussion and lea ning o um, consis -
ing o discussions on inancial managemen , inancing, sa ings, and en ep eneu ship. Du ing hese
egula mee ings, cus ome s deposi ed hei inancing and sa ings ins allmen s. Financing disbu se-
men s we e made o bo h exis ing and new cus ome s, accompanied by ques ion-and-answe ses-
sions on business de elopmen . cus ome s who had ecei ed inancing also bene i ed om he
con inued men o ing. Based on an in e iew wi h Rz (45 yea s old), head o he gunung alang solok
sen a g oup, cus ome assis ance occu ed du ing he sen a Rou ine Mee ing, business moni o ing,
and su p ise Visi (sV). Fu he mo e, he Manage (BM) o B Pn sha ia Business in he Padang a ea,
Table 4. empowe men o unbanked women in B Pn sha ia.
no empowe men s age ac i i y Ma e ial
1P e ma ke ing :su ey and in e iew Cus ome segmen a ion in o ma ion
:Mini Mee ing su ey he esidence o he
cus ome .
:P ojec ion Mee ing in oduc ion o B Pn sha ia:
pu pose and e ms
2Basic aining : aining Financial li e acy
3sen a ou ine mee ing :Financing Disbu semen Financial li e acy and
en ep eneu ship
: assis ance Financial li e acy and
en ep eneu ship
sou ce: B Pn sha ia, 2021.
14 ROZalinDa e al.
by os e ing inancial ins i u ions o de elop p oduc s and se ices cus omized o he needs o
unbanked g oups. inc easing collabo a ion be ween inancial ins i u ions, go e nmen , and ci il soci-
e y o ganiza ions could also be ca ied ou in implemen ing economic empowe men p og ams.
Fu he mo e, s eng hening he egula o y amewo k ha suppo ed inno a ion in inclusi e inancial
se ices was also necessa y.
his s udy u he con ibu ed o knowledge in se e al a enues. Fi s , i con ibu ed o he g owing
li e a u e on islamic economics and inance conce ning inancial inclusion, namely; (1) en iching he
unde s anding o he e ec i eness o inclusi e inance-based economic empowe men models o
unbanked women, (2) p o iding empi ical da a on he posi i e impac o in eg a ing empowe men
and inancial inclusion on inc easing income and sa ings, and (3) iden i ying bes p ac ices in imple-
men ing inancial empowe men p og ams ha could be adap ed by o he inancial ins i u ions and
po e y alle ia ion p og ams. second, he indings p o ided a aluable e e ence o policymake s o
mo i a e islamic banks in imp o ing and expanding access o inclusi e inancial se ices. he s udy
also o e ed insigh s o academics and obse e s in e es ed in he inclusi eness and accessibili y o
he unbanked communi y. hi d, sus ainable economic de elopmen was p omo ed by educing gen-
de gaps in access o inancial se ices. his con ibu ion p o ed ha he e was a s ep o wa d o
islamic banks and policymake s in in e p e ing and implemen ing inancial inclusion o empowe he
economy o unbanked women.
al hough his s udy p o ided aluable insigh s, he e we e se e al limi a ions ha needed o be
add essed. he analysis only ocused on B Pn sya iah and he impac o women’s economic empowe men
based on inancial inclusion on income and sa ings. he e o e, u he s udies we e expec ed o conduc
he publica ion wi h se e al de elopmen s. Fi s , expanding he scope o he s udy o include o he inan-
cial ins i u ions ha also ocused on women’s segmen a ion. second, examining cul u al aspec s and social
cons uc ions in luencing he success o inancial empowe men p og ams. hi d, in es iga ing o he a i-
ables playing a ole in he success o economic empowe men based on inancial inclusion. Finally, conduc -
ing longi udinal s udies o assess he long- e m impac o inclusi e inancial empowe men p og ams. Based
on hese eccommenda ion, inancial inclusion-based empowe men could be expanded o he g ass oo s
le el, p o iding a b oade and mo e sus ainable impac in imp o ing communi y wel a e o unbanked women.
Acknowledgmen s
he au ho s ex end hei g a i ude o he Rec o o Uin, imam Bonjol Padang, o p o iding suppo o implemen -
ing his s udy. he au ho s also app ecia e he willingness o bo h he managemen and cus ome s o B Pn sha ia
o pa icipa e as in o man s, con ibu ing o he dep h and quali y o he s udy. special hanks a e also due o he
i wan abdullah schola Founda ion (ias) eam, whose con inuous assis ance was ins umen al in e ining he s udy
o publica ion. Finally, he au ho s a e hank ul o he dedica ed e iewe s whose insigh s and eedback con ibu ed
o enhancing he quali y o his s udy.
Au ho s’ con ibu ions
Rozalinda: in es iga ed, collec ed, analyzed, and in e p e ed he da a as well as d a ed and e ised he s udy. Yen i
a ida: explo ed, ob ained, analyzed, and in e p e ed da a alongside d a ing and e ising he s udy. i wan abdullah:
guided in he p epa a ion and e iewed he s udy. Zaenuddin hudi P asojo: guided in he p epa a ion and e iewed
he s udy. Mu hia Ul ah: compiled, e ised, and e iewed indings. Pu i ananda saka: Re iewed he s udy. Jumni
nelli: examined, collec ed, and compiled he s udy. all au ho s con ibu ed o he w i ing and comple ion o his
s udy. Fu he mo e, all au ho s ag eed and ook esponsibili y o he wo k and pa icipa ion in he p epa a ion and
comple ion o his s udy in he o m below.
Disclosu e s a emen
no po en ial con lic o in e es was epo ed by he au ho (s).
Funding
he au ho s did no ecei e any inancial suppo o he esea ch and publica ion expenses.
cOgen BUsiness & ManageMen 15
Abou he au ho s
Rozalinda is a lec u e a he Facul y o islamic economics and Business, s a e Uni e si y o imam
Bonjol Padang indonesia. she has a ious esea ches in he ield o islamic economics.
Yen i A ida is a lec u e a he Facul y o islamic economics and Business, s a e Uni e si y o imam Bonjol Padang
indonesia. she has a ious esea ches in he ield o islamic economics.
I wan Abdullah is a P o esso o an h opolgy, Facul y o cul u al sciences, gadjah Mada Uni e si y. his esea ch ield
is an h opolgy, cul u e and eligion.
Zaenuddin Hudi P asojo is a p o esso o eligious s udies a he Pon ianak s a e islamic ins i u e (iain) o Wes
Bo neo indonesia. his esea ch ield is Religious s udies.
Mu hia Ul ah is a lec u e a he Facul y o islamic economics and Business, s a e Uni e si y o imam Bonjol Padang
indonesia.
Pu i Ananda Saka is a pos g adua e s uden o an h opolgy, Facul y o cul u al sciences, gadjah Mada Uni e si y.
Jumni Nelli is a lec u e a he sha ia Facul y o he s a e islamic Uni e si y sya i kasim Pekanba u indonesia. he
ield o s udy is Family law.
Da a a ailabili y s a emen
he au ho s acknowledged he a ailabili y o da a sepa a e om his a icle, which could be accessed on google D i e.
he au ho s ag eed o p o ide da a and ma e ials suppo ing he esul s o analyses p esen ed in he s udy, a ailable
upon easonable eques . he da a was ob ained h ough google D i e and by emailing [email protected].
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