Women’s representation in banking sector stuck at 16pc for 3 yrs

The representation of women has risen moderately in the country’s banking sector, but it still falls short of a fair ratio as per the sector's total workforce.

The percentage of female employees in the sector has been stuck at 16 per cent for the last three years, while the remaining 84 per cent are male employees.

Meanwhile, the women’s representation in the boards has decreased remarkably, according to a central bank report for the July-December quarter.

The report said the total number of female employees in the banking sector stood at 33,346 at the end of 2023, while male employees numbered 170,350. It translates to 16.37 per cent of the bankers being women, a figure that has barely changed from 16.29 per cent registered in 2022 and 16.03 per cent in 2021.

Despite no significant change in the percentage of female bankers, the total number increased from 30,141 in 2021 to 33,205 in 2023.

On the flip side, there has been a consistent surge in the recruitment of women in the Bangladesh Civil Service (BCS), with an average recruitment rate of 26 per cent in the 36th, 37th, and 38th general BCS, and 48 per cent in subsequent two BCSs.

A total of 6,566 female cadres have been recruited through the five BCS examinations, when the number of recruited males is 9,804.

The central bank report noted that the representation of women is now 17.04 per cent at the entry level, and it is 15.79 and 9.36 respectively at the intermediate and higher levels.

Besides, the participation of women on the boards of banks has seen a slight decline, dropping from 14.22 per cent in 2022 to 13.51 per cent in 2023. The rate of women leaving bank jobs to pursue other opportunities has increased to over 16 per cent in 2023, which is up by 1 per cent from that of the previous year.

Humaira Azam, managing director of Trust Bank, attributed the low participation of women in banks to various social realities, including career sacrifices and migration.

“The participation of women is low in the banking sector due to various social realities. The women have to sacrifice their careers while combating multifaceted challenges. Also, some women are migrating abroad, despite a good career start in the banking sector. Regrettably, it is the reality,” she said.

The Trust Bank MD suggested undertaking long-term measures to address these issues. She said equal opportunities should be ensured to all, in addition to overall improvement in the work environment.

A similar scenario prevails in the non-bank financial institutions as the women’s representation here is 17 per cent. The number of female employees is relatively low at all levels.

The rate of leaving jobs to pursue other opportunities is also comparatively higher among the women in the financial institutions than the banks. The percentage of female employees who left financial institutions to pursue other jobs stoked at 35 per cent at the end of 2023.

Sayema Haque Bidisha, research director at South Asian Network on Economic Modeling (SANEM), underscored the importance of creating a safe and supportive work environment for women, including provisions for childcare facilities. She also emphasised on the public-private initiatives to enable women to balance work and family responsibilities effectively.

Besides, she advocated for increasing higher study opportunities for women in the associated subjects in an effort to increase the participation of women in the banks and financial institutions.