Cultural gender norms lead women to consider it unnecessary to have a savings account in their own name, as men are responsible for household resources.
The study presented an analysis of gender gaps in financial inclusion, access to financial products and services, as well as financial education and consumer protection.
At the same time, a case study is presented that compiles the experience of women in the use of credit through microfinance institutions that have become an inclusion option for this segment of the population.
In addition, it provides a series of public policy recommendations to reduce the gaps in financial inclusion through the innovation of products and services that adapt and respond to the needs of women, bringing closer the means and channels to facilitate access.
Similarly, inequality in the distribution of property and assets limits women's ability to pay when applying for and accessing credit.
Due to the fact that women are engaged in informal sector activities, there is a lack of social security, with a pension system that lacks gender equality, without taking into account the discrimination of women in the labor market, generating lower contributions and savings for old age.
The document emphasizes the need for financial inclusion policies to be accompanied by labor and care inclusion policies, with the State assuming responsibility for the social reproduction that falls on women.
The study also provides public policy recommendations related to the regulation of insurance, savings, pensions and financial education.
It also calls for the urgent need to propose and implement a social pact for equality and for the participation of various sectors and social actors in the construction and strengthening of existing country strategies and policies.
In addition, the research is part of the project "Closing gaps, promoting an active citizenry that demands equal rights and social protection in post-pandemic El Salvador", which monitors public policies on equality and social protection.
The research was conducted by research associates Nathalie Chacón and Jessica Veloz, with the academic advice of FUDECEN's president, Óscar Cabrera, and adds to the studies and reports carried out to close the multidimensional inequality gaps in El Salvador.
Translated by: A.M