Legal, cultural barriers are an obstacle to women's economic contribution: Oxford Univ
Updated: May 30, 2014 12:41:21pm
New Delhi, May 30 (KNN) Although women across the world are keen to make substantial contribution to the economy, a host of legal and cultural barriers, including inability to open a basic bank account prevent them from fulfilling their ambitions, according to the Said Business School.
“Thousands of women throughout the world have the ambition and potential to make an increased economic contribution, whether through starting their own businesses, getting a job, or simply managing the family’s finances. But so many of them are unable to do so because of a raft of legal and cultural barriers that prevent them even opening a basic bank account,” said Professor Linda Scott, convenor of Power Shift.
Scott was speaking at the launch of Power Shift: The Oxford Forum on Women in the World Economy, at Said Business School of Oxford University.
“For women to be free to engage with the world of finance – to open bank and savings accounts, to own land and other assets, to borrow money and have access to capital – is a vital first step on the road to economic and social equality,” she added.
Said Business School of the Oxford University is making a petition to world leaders to make financial inclusion for women a global imperative and include it in the post 2015 Millennium Development Goals, according to a press release.
The launch of Power Shift was live-streamed on the Knowledge Gateway for Women’s Economic Empowerment, and the petition was signed by the conference participants – a range of leading academics, investors, financial institutions, advisers and entrepreneurs.
Business School Dean, Peter Tufano and University Vice-Chancellor, Andrew Hamilton were among the first signatories to the petition.
“We, the undersigned, call on the Open Working Group on Sustainable Development Goals, in the articulation of the Post-2015 Development Framework, to emphasise women's economic empowerment, particularly with regard to increasing women’s access to financial services, improving their financial capability, and increasing their access to skilled jobs including leadership positions in the financial sector,” the petition said.
The e-petition is now open for digital signatures at https://bitly.com/WomensFinancialInclusion until 6 June 2014. The full petition will be delivered in person to the UN in New York on 9 June 2014.
Speaking about the initiative, Tufano said: “Financial inclusion is an essential prerequisite in order for women to assume a fuller role in society and to fulfil their economic potential, contributing to the prosperity of their families, communities and wider society.
“Research indicates that women have a key role to play in stimulating economic growth at all levels, so it makes sense to find ways to increase women’s access to economic activity and services, and to enhance their financial capabilities. This petition focuses attention upon these key issues and calls upon the business community and policy makers to direct efforts to addressing them,” he said. (KNN/ES)
“Thousands of women throughout the world have the ambition and potential to make an increased economic contribution, whether through starting their own businesses, getting a job, or simply managing the family’s finances. But so many of them are unable to do so because of a raft of legal and cultural barriers that prevent them even opening a basic bank account,” said Professor Linda Scott, convenor of Power Shift.
Scott was speaking at the launch of Power Shift: The Oxford Forum on Women in the World Economy, at Said Business School of Oxford University.
“For women to be free to engage with the world of finance – to open bank and savings accounts, to own land and other assets, to borrow money and have access to capital – is a vital first step on the road to economic and social equality,” she added.
Said Business School of the Oxford University is making a petition to world leaders to make financial inclusion for women a global imperative and include it in the post 2015 Millennium Development Goals, according to a press release.
The launch of Power Shift was live-streamed on the Knowledge Gateway for Women’s Economic Empowerment, and the petition was signed by the conference participants – a range of leading academics, investors, financial institutions, advisers and entrepreneurs.
Business School Dean, Peter Tufano and University Vice-Chancellor, Andrew Hamilton were among the first signatories to the petition.
“We, the undersigned, call on the Open Working Group on Sustainable Development Goals, in the articulation of the Post-2015 Development Framework, to emphasise women's economic empowerment, particularly with regard to increasing women’s access to financial services, improving their financial capability, and increasing their access to skilled jobs including leadership positions in the financial sector,” the petition said.
The e-petition is now open for digital signatures at https://bitly.com/WomensFinancialInclusion until 6 June 2014. The full petition will be delivered in person to the UN in New York on 9 June 2014.
Speaking about the initiative, Tufano said: “Financial inclusion is an essential prerequisite in order for women to assume a fuller role in society and to fulfil their economic potential, contributing to the prosperity of their families, communities and wider society.
“Research indicates that women have a key role to play in stimulating economic growth at all levels, so it makes sense to find ways to increase women’s access to economic activity and services, and to enhance their financial capabilities. This petition focuses attention upon these key issues and calls upon the business community and policy makers to direct efforts to addressing them,” he said. (KNN/ES)
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