Interreligious dialogue is usually described as a field that can and should serve peace and thus contribute to social cohesion. It is geared toward building bridges, creating understanding, and enabling trust. Thus it promises to prevent or resolve conflicts and have an integrating effect. However, some interfaith pioneers in Asia have insisted that interfaith relations must not sacrifice liberation for the sake of peace. Liberation discourse has been key in unmasking, naming and overcoming various forms of injustices. This paper reconstructs this discourse in the interreligious field and discusses in which way the ecumenical movement has been part of the discourse. Particular emphasis will be given to the connection between the contextual focus of liberation discourse, and global entanglements. Furthermore, the paper reconstructs how women's initiatives in the interreligious field contribute to liberation narratives, locally and beyond. The paper asks how and for whom the praxis of interreligious dialogue has become liberative. The paper proposes und explores the thesis that one key element in the discourse is how "agency" is constructed theologically, and how "agency" is re-configured in interreligious dialogue settings, practically and theologically.