The Determinants of Financial Inclusion in Egypt

International Journal of Financial Research, Vol. 11, No. 1; 2020

14 Pages Posted: 23 Jun 2021

See all articles by Abeer Rashdan

Abeer Rashdan

Future University in Egypt FUE

Noura Eissa

Faculty of Economics and Political Science FEPS, Future University in Egypt

Date Written: October 21, 2019

Abstract

Recently, Egypt has prioritized financial inclusion in its monetary reform agenda. The objective of this paper is to examine the determinants of financial inclusion in Egypt using the World Bank¡¯s Global Findex 2017 database to conduct a logistic regression. Empirical results prove that there is no significant relationship between gender and the level of financial inclusion in Egypt, whereas, richer, more educated and older individuals are more strongly included in the financial system. The results reveal that the main barrier to financial inclusion is actually a lack of money; which hinders opening a formal account, savings account or credit account. Through possible policy measures, the paper recommends the need for a progressive approach to robust financial literacy and awareness in order for a positive economic growth role of financial inclusion to emerge in the Egyptian economy.

Keywords: inancial inclusion, financial literacy, economic development, financial determinants

JEL Classification: G1, G21, G28, J16

Suggested Citation

Rashdan, Abeer and Eissa, Noura, The Determinants of Financial Inclusion in Egypt (October 21, 2019). International Journal of Financial Research, Vol. 11, No. 1; 2020, Available at SSRN: https://ssrn.com/abstract=3649051

Abeer Rashdan

Future University in Egypt FUE ( email )

90th Street
New Cairo
Egypt

Noura Eissa (Contact Author)

Faculty of Economics and Political Science FEPS, Future University in Egypt ( email )

90th Street
New Cairo
Egypt

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