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European Journal of Social Sciences Studies ISSN: 2501-8590 ISSN-L: 2501-8590 Available on-line at: www.oapub.org/soc doi: 10.5281/zenodo.1156303 Volume 2 │ Issue 9 │ 2017 WOMEN'S ECONOMIC EMPOWERMENT AND MICRO-FINANCE OPERATION IN BANGLADESH: FROM POLICY TO OPERATIONAL LEVEL INTERVENTIONS Shamim Noori Assistant Professor Department of Public Administration University of Chittagong, Chittagong-4331, Bangladesh Abstract: In the present context of women’s socio-economic empowerment, Bangladesh has played a revolutionary role in microcredit movement and has proved that the poor women are creditworthy and they can even do better in repaying the debt. This movement is no longer limited to only microcredit program; rather it includes more service-oriented in the frame of microfinance operation. Microcredit institutions in Bangladesh have dramatically increased the credit available to poor rural women since the mid-1980s. Moreover, Microfinance Institutions (MFIs) have become a dominant financial institution for the poor section of people, especially women who cannot access formal financial institutions in a large extent. Though poor women have access to microfinance, later it has been explored that due to various kind of patriarchal norms and other socio-economical constraints, women in most cases lose the control on proper utilization of debt. Even though, sometimes women’s decision-making power and the expansion of enterprise became shrink due to lack of control over the loan utilization process. This paper mainly focuses on how microfinance intervention in Bangladesh played a decisive role in women’s economic empowerment and to what extent government policy initiatives and institutional building approach assist in flourishing microfinance discourse more friendly for the most vulnerable poor women. Moreover, this paper also evaluates the most prominent two selected institutions named BRAC and Grameen Bank’s microfinance operation from a critical viewpoint and assess to what are the existing ambiguity in the arena of microfinance operation at the field level. Copyright © The Author(s). All Rights Reserved. © 2015 – 2017 Open Access Publishing Group 302 Shamim Noor WOMEN'S ECONOMIC EMPOWERMENT AND MICRO-FINANCE OPERATION IN BANGLADESH: FROM POLICY TO OPERATIONAL LEVEL INTERVENTIONS Keywords: economic empowerment, microfinance, NGO, BRAC, Grameen Bank, debt, Bangladesh 1. Introduction Women make up almost half of the population of Bangladesh, but they remain one of the most at risk social groups of the country. Though numerous steps have been taken to advance women’s position in society, but still they continue to have lower economic, social and political opportunities. There are various socio-economic religious and political causes behind the lack of women's position both at the household and social level. This underprivileged position leads to a higher threat of poverty for women as a social group. It also subjects them to other risks such as physical and emotional violence, exploitation, and natural disasters. It is recognized that women as a heterogeneous group, in terms of their situations, deprivations, and needs vary according to their locations within various communities, religions, and regions (Ali & Hatta, 2012). Thus, along with promoting rights and entitlements of women, government of Bangladesh formulated different policies and programs to eliminate all forms of socio-economical and political discriminations. Moreover, government and different NGO's launch different supportive programs to enhance and ensuring equal access of women to political, economic and social space. Government of Bangladesh established women's rights and security through constitutional mandate. The Articles 10, 19, 28 of constitution of Bangladesh have granted the rights of women to work in all professions. The Article read as follows; “rticle : Steps shall be taken to ensure participation of women in all spheres of national life. Article 19 (2): The State shall adopt effective measures to remove social and economic in equality between man and woman and to ensure the equitable distribution of wealth among citizens, and of opportunities in order to attain a uniform level of economic development throughout the Republic. Article 28(2): Women shall have equal rights with men in all spheres of the State and of public life. Article 28(4): Nothing in this article shall prevent the State from making special provision in favor of women or children or for the advancement of any backward section of citizens (The Constitution of the People's Republic of Bangladesh, 2011) European Journal of Social Sciences Studies - Volume 2 │ Issue 9 │ 2017 303 Shamim Noor WOMEN'S ECONOMIC EMPOWERMENT AND MICRO-FINANCE OPERATION IN BANGLADESH: FROM POLICY TO OPERATIONAL LEVEL INTERVENTIONS To comply and follow these Articles of the Constitution, the supreme law of the country, different ministries are proposed to develop comprehensive Gender Policy to expose the concept of gender within its workplaces; at the stakeholder’s level as well as within the entire sector (MOWCA, 2011). This policy stands on the principles to ensure a consistent and equitable approach towards mainstreaming the concept of gender and preventing gender disparities among employees and stakeholders. However, it is more evident that the government of Bangladesh is committed to uphold women's socioeconomic status in every sphere of their lives. In this paper, we try to explore the government level interventions at the national level, which advocates in fortifying women's economic empowerment. In the light of these policies, we also try to understand some NGO level actions and interventions, through which women's economic empowerment has been ensured in the present context of Bangladesh. To analyze government level interventions for women's economic empowerment, we try to analyze National Women Development Policy 2011 and The Seventh Five Year Plan (FY 2016- FY 2020). These two documents are the supreme level initiatives through which government of Bangladesh declares all sector wise initiatives, that needs to be implemented on the basis of national priority. Based on these policies, we try to focus on the institutional building approach, like Microcredit Regulatory Authority (MRA), and later we have an attempt to analyze initiatives and actions taken in favor of economic empowerment by two selected organization, named BRAC and Grameen Bank at the field level through micro finance program. For viewing / downloading the full article, please access the following link: https://oapub.org/soc/index.php/EJSSS/article/view/305 European Journal of Social Sciences Studies - Volume 2 │ Issue 9 │ 2017 304