The Impact of Banking Culture on Financial Inclusion: An Applied Study on Banks in Egypt

Document Type : Original Article

Authors

1 Doctorate in Business Administration

2 Faculty of Commerce Zagazig University

Abstract

The current study aimed to measure the impact of banking culture on the level of financial inclusion (access, use, and quality) in Egyptian banks. Based on a stratified random sample of eight public and private sector banks in Qena city (which is considered the capital of Qena Governorate), the study concluded that the actual level of banking culture and the level of financial inclusion are above average from the point of view of bank respondents. The study concluded that there is a moderately strong positive correlation between banking culture and financial inclusion in banks, and that respondents' perception of banking culture and the latent dimensions of financial inclusion (access, use, and quality) does not differ based on the type of respondents, their ages, or their educational level. In contrast, their perception of the study variables differs based on their job profession, the type of bank they join, and the duration of their membership in the bank. In addition, increasing the level of banking culture among bank customers in Qena city will primarily lead to an increase in their use of financial services. This will make them more aware of all the financial services provided by banks and their advantages and disadvantages, which will make it easier for them to rely on these services in their various marketing and commercial activities. Secondly, it will increase the possibility of new customers accessing the financial services provided by banks, and thirdly, it will increase the level of quality of financial services provided by banks in Qena city. With banks focusing on the three dimensions (access, use, and quality) with equal importance, this will maximize the impact of customers’ banking culture on the level of financial inclusion of banks as a whole. With no negative feedback from the level of financial inclusion on banking culture.

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