CAF reports gender gap in Latin American banking access

According to data released by the Development Bank of Latin America and the Caribbean (CAF), only 66% of women in Latin America have a bank account, compared to 74% of men. This gap serves as a barrier to economic autonomy, preventing millions of women from participating fully in the formal economy, managing income, and accessing financial products.

CAF emphasizes that financial inclusion begins with access to a bank account, which allows individuals to build a formal financial history. To close this gap, the institution suggests that the financial system must better understand the specific economic, labor, and productive needs of female clients. To address these inequalities, CAF and the United Nations Development Programme (UNDP) are promoting the Gender Equality Seal for Financial Institutions.