Aditya Shafy Chandra1*, Sadiya Altaf Janwari2 1Faculty of Agricultural Economics and Agribusiness Studies, Khulna Agricultural University, Khulna-9100, Bangladesh. 2Islamic University of Science and Technology, Awantipora, Pulwama, India Corresponding Author: adityashafy.chandra@gmail.com E-mail address: sadiajanwari20@gmail.com Abstract This study analytically investigates women’s financial inclusion across seven south Asian countries and has used World Development Indicators from 2011 to 2021. Financial inclusion can be defined as the availability and equality of opportunities to access and use financial services. It has emerged as an urgent priority of development linked to gender equality, reducing poverty and economic growth (Sarma & Pais ,2011; World Bank, 2014). This examination reveals significantly large cross-country variation with women owning an account, range from 2.95% in Pakistan to 89.28% in Sri Lanka by 2021. Panel regression analysis shows that GDP per capita impacts financial inclusion (p < 0.01) while female labor force shows a positive yet statistically insignificant relationship. India has witnessed a noticeable improvement with 192.76% growth over the decade, which resulted due to targeted policy interventions which includes Pradhan Mantri Jan Dhan Yojana (Kapoor,2014). Pakistan, on the other hand, despite witnessing significant percentage gains, it still maintained to have the lowest total inclusion levels, which reflects socio cultural and institutional barriers (Rahman, Rana & Barua, 2019). The findings mentioned in this paper highlight the vitality of integrated policy approaches that merge economic development, digital infrastructure expansion and initiatives to challenge the gender norms which are restrictive coercing women’s financial participation. Keywords: Financial Inclusion, Gender Gap, South Asia, Economic Development, Women Empowerment, Digital Finance 1. Introduction Financial inclusion has been identified as an important aspect of inclusive economic development and poverty reduction strategies across the world (Sarma & Pais, 2011; World Bank, 2014). Financial inclusion is described as the “process of ensuring access to suitable financial products and services at reasonable costs in a fair and transparent manner” (Hannig & Jansen, 2010). Financial inclusion helps people save money in a safe manner, invest in productive sectors, cope with economic risks, and become resilient to financial shocks. Financial inclusion has been recognized as a facilitator for achieving seven out of the seventeen Sustainable Development Goals (United Nations, 2015). For women in particular, financial inclusion is more than just an economic empowerment tool; it is also a means of achieving greater autonomy, decision-making capacity, and social mobility (Kabeer, 2005; Swamy, 2014). Financial inclusion can allow women to build assets on their own, invest in education and health, establish and grow businesses, and make their own decisions about household resources. Studies have shown that financial inclusion of women has positive spillover effects on child nutrition, education, and overall household well-being (Dupas & Robinson, 2013). Despite the rapid economic growth and development of financial systems in South Asia over the past two decades, the region still has some of the most visible gender gaps in financial inclusion in the world (International Monetary Fund, 2018). Women in South Asia are confronted with multiple barriers such as lower levels of education, limited participation in the labor market, digital divides, and deeply rooted socio-cultural factors that impede their economic empowerment (Ghosh & Vinod, 2017; Rahman, Rana, & Barua, 2019). Although some studies have been conducted on financial inclusion in South Asia, and some cross-country studies have been conducted, empirical evidence specific to South Asia, using standardized and comparable data sets for all major economies. In this context, the present study undertakes a comprehensive empirical analysis of women’s financial inclusion in seven South Asian nations, namely Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, using World Development Indicators data from 2011 to 2021. Specifically, the study aims to: By addressing these objectives, the study contributes to the growing literature through a standardized, region-wide comparative framework. 2. Literature Review 2.1 Conceptual Framework of Financial Inclusion The literature on financial inclusion has progressed from the conventional focus on access to banking services to a broader focus that includes access, usage, and quality aspects of financial inclusion (Demirgüç-Kunt & Klapper, 2013). Sarma and Pais (2011) constructed a multi-dimensional index of financial inclusion that covered banking penetration, the degree of banking services, and the use of the banking system. Chakravarty and Pal (2013) further extended this line of thinking by incorporating an axiomatic structure that covered the distributional elements of financial inclusion. More recent literature suggests that financial inclusion must be considered not only as a function of account ownership but as engagement with formal financial services (Allen et al., 2016). This difference between access and usage becomes even more important in the context of women’s financial inclusion, where gender-specific barriers could result in a higher level of account dormancy among women (Demirgüç-Kunt et al., 2018). 2.2 Determinants of Financial Inclusion The existing literature has been able to identify some of the important determinants that affect the availability of formal financial services. At the macroeconomic level, economic development has been identified as an important determinant of financial inclusion. Economies with higher GDP per capita have better financial systems, more developed regulatory systems, and greater household capacity to access formal financial services (Sethi & Acharya, 2018). Sharma (2016) has also been able to identify important empirical relationships between economic development and financial inclusion in the Indian context. Education has been identified as an important determinant of financial inclusion. Education and literacy abilities enable people to understand financial systems and make important decisions (Mehrotra et al., 2009). For women, education has been identified as an important determinant of financial inclusion. Education not only increases financial abilities but also increases bargaining power in the household (Ghosh & Vinod, 2017). Labor force participation is another important determinant, although the correlation is complex. The formal sector job generates demand for banking services through salaries, as well as familiarity with financial institutions (Aterido, Beck, & Iacovone, 2013). However, in environments where the informal sector is the norm, the correlation between labor force participation and financial inclusion could be weakened. 2.3 Digital Technology and Financial Inclusion Recent studies have also emphasized the revolutionary potential of digital technology