AN ANALYSIS OF REGULATORY POLICY ON THE RELATIONSHIP BETWEEN ISLAMIC BANKING AND WOMEN’S ACCESS TO CAPITAL IN NIGERIA AND OTHER SUB-SAHARAN AFRICAN COUNTRIES

Resumen

This paper thus examines the influence of Islamic banking regulations in determining women’s access to capital in Nigeria and five comparator Sub-Saharan African countries. Although Shariah-compliant finance resonates quite familiar with the socio-religious realities in these economies with Muslim women, the lack of consistency between the regulatory intent and actual capital access improvements has been inconsistent throughout the region. Using secondary data analysis, the research includes central bank documents, Global Findex 2021, EFinA 2023, World Bank 2024, IFSB and IsDB reports, Scopus and Web of Science articles (2018-2024), and grey literature from the IFC, CGAP, and UN Women. Thematic analysis and cross-country benchmarking organize the inquiry. Findings validate the conjecture that regulatory design has a meaningful influence on the access of capital by women, but not in a direct, guaranteed manner. Nigeria’s CBN framework is structurally sound but eroded by hard-binding collateral rules, geographic concentration, and the absence of gender disaggregated data. Kenya and Tanzania are showing that combining Islamic windows in inclusive regulatory systems will produce a better outcome for women. Sudan is a good example that shows Shariah compliance without gender-specific intervention is insufficient. Ghana and Uganda are done with regulatory ambiguity that stifles growth despite clear demand. The paper suggests three reforms: a Gender Responsive Islamic Banking Regulatory Standard, mandatory gender disaggregated reporting, and a Women’s Islamic Capital Access Fund as a practical agenda for reconciling the values of Islamic banking with women’s financial empowerment.