Embracing women empowerment through microfinance services: A case of microfinance institute

Abstract

The purpose of this research study is to explore the relationship between microfinance services and women's empowerment in Pakistan. Women empowerment is a critical issue in developing countries of Asia & Africa. The study aimed to get insight into the factor empowering women through the utilization of financial & non-financial services. A case study method was selected to explore the phenomenon in the context of RCDP a Non-Banking Finance Company. The study has used a qualitative research design. The data was collected from rural, semi-urban clients of a microfinance company named Rural Community Development Program (RCDP). The in-depth interview has conducted with women borrowers by using a purposeful sampling technique. The thematic analysis as themes, sub-themes, and enablers are instigated for data analysis. The findings of the study indicate that microfinance services proved as an effective tool for community development and significant impact on women empowerment. Further, microfinance services have broadened the choices for women that lead to empowerment. The microfinance organizations, the practitioner can benefit from this research study results through constructing such policies that promote the women empowerment culture in Pakistan through financial inclusion programs. This research study is also beneficial for professionals to review the practices to strengthen the women with value-added services. The contemporary research is original in that it combines a systematic and integrative literature review to the ground. This study used the microfinance company (RCDP) in-depth to promote women's empowerment and wellbeing. This study is beneficial for management, employees, and policymaker as well. Further, this study makes an invaluable contribution to expanding their support to women through financial and non-financial services.