Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Digital Financial Inclusion and Remittances: An Empirical Study on Bangladeshi Migrant Households

Version 1 : Received: 1 August 2023 / Approved: 2 August 2023 / Online: 3 August 2023 (02:36:56 CEST)

A peer-reviewed article of this Preprint also exists.

Abdul Mannan, K.; Farhana, K.M. Digital Financial Inclusion and Remittances: An Empirical Study on Bangladeshi Migrant Households. FinTech 2023, 2, 680-697. Abdul Mannan, K.; Farhana, K.M. Digital Financial Inclusion and Remittances: An Empirical Study on Bangladeshi Migrant Households. FinTech 2023, 2, 680-697.

Abstract

Globally, large numbers of adults remain unbanked and most of them live in rural areas of the Third World. The recent outbreak of the COVID-19 pandemic has shown us how inequalities in accessing financial services continue to affect us. However, financial inclusion has emerged as an effective tool to tackle socioeconomic ills and drive economic development. In fact, due to these modern technological developments, the number of studies in this area is very limited, especially in the context of developing economies. This study examines the impacts of migrant remittances on digital financial inclusion within households using the Migration and Remittance Household Survey in Bangladesh. To meet the research objectives of this study, a household survey was conducted and interviewed 2,165 households in 2022-2023 in Bangladesh. This study finds that the coefficient of remittance has a positive relationship with the probability of using mobile banking for a household's financial transactions. However, the use of ATM cards by households for financial transactions has not been significantly affected. The article concludes that remittance flows may enhance access to and use of digital financial inclusion by reducing some of the barriers and costs in Bangladesh, which can greatly contribute to the country's economic growth by creating and increasing a strong fund for investment.

Keywords

digital financial inclusion; migration; remittance; household; rural-urban; Bangladesh

Subject

Business, Economics and Management, Other

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