Lack of women in policy or financial institution leadership
Women remain disproportionately absent from C-suite, board-level, and revenue-generating positions at financial institutions, despite making up a significant portion of the staff. Women account for just 18% of C-suite positions in financial service providers globally. This limits the diversity of perspectives shaping every aspect of the financial ecosystem - from product design to service delivery - and ultimately, constrains the sector's ability to meet women customers' needs. Luckily, some institutions tackle this issue head one - for example, Rwanda’s central bank offers a notable example of what to do better, with women holding 50% of management positions - demonstrating that gender-balanced leadership is achievable when invested in.
9 Connected Barriers
Most Relevant Segments
- 01. Excluded, marginalized
- 02. Excluded, high potential
- 03. Included, underserved
- 04. Included, not underserved
Most Relevant Customer Journey Phases
- Phase 1: Account Ownership
- Phase 2: Basic Account Usage
- Phase 3: Active Account Usage
- Phase 4: Economic Empowerment
Key Evidence
Women are underrepresented in FSP leadership positions.
Despite some progress and targeted efforts to increase women’s representation, they continue to lag behind men in key leadership roles in FSPs. This includes C-suite and executive positions and board seats, as well as revenue-generating positions and senior technology roles. Moreover, what progress has been made in recent years appears to have stalled. Mandated targets for gender balance, including in Nigeria, have not been met.
- Women account for 18% of C-suite positions in FSPs globally. While the representation of women in leadership has improved over time, these numbers are expected to stagnate due to lack of action. (Deloitte Insights, 2023)
- A 2025 survey of FSPs finds that fewer than 25% of institutions have women in their C-Suite or senior management (Women’s World Banking, 2026).
- The overall share of women across all senior staff, including director level or above, in central banks is 32%, just one percentage point higher than last year. There are some exceptions to this trend. In Rwanda, for example, the central bank has achieved notable success in gender representation at both board and leadership levels, with women holding 50% of management positions, 67% of executive director roles, and 19% of director positions. (OMFIF, 2025)
Equitable leadership with higher gender balance is correlated with better performance and growth.
Ensuring more equitable leadership can be a key driver of growth and empowerment for women themselves, and is also associated with better business outcomes, including increased revenue and funding. Diverse leadership ensures broader perspectives in decision-making that influence financial policies and attract broader customer bases, including addressing the specific needs of women customers. Including women in leadership leads to more equitable outcomes and higher growth for both the institution and the economy.
- There is a 48% difference in profitability and annual revenue between companies with the most and least gender-diverse teams. (Women’s World Banking, 2025)
- Firms with a 10% higher share of women on executive boards see, on average, a 13% increase in revenue and funding. (IMF, 2022)
- By bringing women into leadership roles, institutions can ensure that a wide range of perspectives influence financial policies. This diversity of perspectives includes regulating financial products and services to meet the specific needs of women customers, ensuring equal access to credit, savings, payments, insurance, and investment opportunities. (Women’s World Banking, 2025)
Strengthening women’s leadership within FSPs requires targeted talent development alongside structural reforms and accountability mechanisms.
Interventions that have successfully addressed this barrier
The following Exemplar represents one evidence-based interventions that has shown success in addressing this particular barrier. There may be other Exemplars for this barrier in the larger Barriers & Exemplars Analysis compendium deck.
A BRAC Bank initiative to increase female representation in its workforce and leadership as a first step towards accelerating Bangladeshi women's access to financial services
3 Connected Exemplars
