Pilot Study on Muslim Women’s Participation in Household Financial Planning in Sangli District

Abstract

This pilot study examines the involvement of Muslim women in financial planning and management within households in Sangli District, India.  The study evaluates the financial literacy, decision-making involvement, and socio-cultural influences of 50 Muslim women (from both urban and rural areas, including both employed and unemployed individuals).  The results show that most of the people who answered the survey (94%) have basic access to money, but they are not very involved in planning their finances.  Only 18% of women are solely in charge of the family's money. The rest, 58%, share this responsibility with their husbands. This shows that patriarchal norms are still strong.  There are different levels of financial literacy in the sample. Almost half of the people in the sample don't know much about financial products, and only 28% know a lot about key concepts.  Working women, particularly in urban settings, exhibit increased participation in financial decisions and elevated financial literacy, corroborating broader research indicating that education and income augment women's financial agency.  But many women still don't have as much power over their decisions because of socio-cultural factors like traditional gender roles and worries about community identity.  Most people said that their families were at least "somewhat supportive" of their financial involvement, which is a good thing.  The pilot results show both progress and areas that need work:  Muslim women in the study are using financial services more and more (like digital payments) and want to be financially stable, but they often let male family members make important decisions for them.  The paper examines these innovative insights through the lens of Islamic rights frameworks, empowerment theories, and policy initiatives, providing recommendations to improve the financial inclusion and autonomy of Muslim women in analogous contexts.