Why is Higher Institution Students Un-banked in Duhok City? Evidence from a Survey Analysis.

Abstract

This paper attempts to find out why higher institution students in Duhok are not opening or having bank accounts. With the use of interview process and questionnaire, 100 students were selected from Newroz University, Dohok Polytechnic University and Dohok private technical institute in Duhok city.  It was found from this study that most of these students’ approximately 90 students of them have no bank accounts while only 10 of them have bank accounts. Moreover, this research found that trust on banks, security, bad banks infrastructure, lack of money, costs of opening bank accounts, access to bank accounts and unemployment are the main reasons for low banking interest among students in Duhok city. However, the highest reason is lack of trust on Duhok banks and lack of money due to high unemployment rate. It is suggested that banks in Duhok city should encourage students to open bank accounts by advertising the importance of banking services and offer student loans. Also, Duhok government should award scholarship to student to ease the pressure from the unemployment menace in the country. Keywords: Un-bank, Bank trust, Poverty, Banking access

Keywords: {'name': 'Un-bank, Bank trust, Poverty, Banking access'}

Authors & affiliations

Sardar Shaker Ibrahim
Affiliation not supplied

Odunayo Magret Olarewaju
Affiliation not supplied

Deposited references

Supplied references, not a list of publications citing this article.

DOI: 10.21744/irjmis.v3i11.311

DOI: 10.46745/ilma.jbs.2017.13.02.07

DOI: 10.1057/fsm.2015.8

Casu, B., Molyneux, P. and Girardone, C. (2006). Introduction to banking. London: Prentice Hall Financial Times.

Chipeta, C. and Kanyumbu, E. (2018). Determinants of Access to Banking Services in Malawi. African Economic Research Consortium, Nairobi: Kenya.

DOI: 10.2307/2235252

DOI: 10.1257/app.20160597

FDIC: 2017 FDIC National Survey of Unbanked and Underbanked Households. (2019). Retrieved from https://www.fdic.gov/householdsurvey/

Gibbs, G. (2011) Research Interviewing Part2; the pros and cons of interviewing [video online] available at:http://www.youtube.com/watch?v=4PbB2sAq-PQ [Accessed 2end February 2019]

Heffernan, S. (2005). Modern banking (1st ed., p. 28). The Atrium, Southern Gate, Chichester, West Sussex PO19 8SQ, England: John Wiley & Sons Ltd.

Hilldreth, R. (2001). The history of bank. Batoche Books, Kitchener: Canada.

DOI: 10.1016/j.jbankfin.2008.05.004

DOI: 10.14500/kujhss.v2n1y2019.pp118-123

DOI: 10.1093/wber/lhn016

Jurevičienė, D., and Skvarciany, V. (2013). THE CONCEPT OF CONFIDENCE IN BANK. In The 7th International Days of Statistics and Economics,, (pp. 532-540). Prague. Retrieved from https://msed.vse.cz/msed_2013/en/index

Kalpana, B. and Rao, T.V.(2017). Role of commercial banks in the economic Development of India. International Journal of Management and Applied Science, 3(4): 1-4.

Kapoor, S. (2009). A simpler, smaller, safer, more diverse and more stable banking system is what we need’, Re-Define Policy Brief.

DOI: 10.1016/j.econlet.2017.11.014

Knell, M. and Stix, H.(2010). Trust in Banks - Evidence from normal times and from times of crises, Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Trusting Banks in a Financial Crisis, No. A1-V1, Verein für Socialpolitik, Frankfurt a. M.

DOI: 10.5958/2249-7307.2016.00032.3

DOI: 10.1016/j.iimb.2017.10.001

Monnin, P. and Jokipii, T. (2010). The Impact of Banking Sector Stability on the Real Economy. Swiss National Bank, Börsenstrasse.1-24.

DOI: 10.26555/ijish.v1i1.134

Nandru, P. , Anand, B. and Rentala, S. (2015). Factors influencing financial inclusion through banking services. Journal of Contemporary Research in Management, 10(4): 17-30.

Phiri, C. & Muponda, G. (2016). Public confidence and its impact on the performance and stability of banks in Zimbabwe. University of Zimbabwe Business Review, 4(1): 1-14.

DOI: 10.1108/IJBM-08-2013-0086

RTI International report (2008). Kurdistan Region Economic Development Assessment.

Rudaw (2016, December 28). Poverty rate in Kurdistan Region quadrupled to 15 percent, official. Retrieved from http://www.rudaw.net/english/kurdistan/281220162

DOI: 10.1080/0267257X.2013.842609

Singh, U.S, and Bradosti, H. (2015). Acceptability of Banking Operations in Iraqi Kurdistan. Research Journal of Finance and Accounting, 6(9): 276-286.

DOI: 10.1596/1813-9450-3834

Tchouassi, G. (2012). Can Mobile Phones Really Work to Extend Banking Services to the Unbanked? Empirical Lessons from Selected Sub-Saharan Africa Countries. International Journal of Developing Societies, 1(2): 70-81.

Tóth, Z. (2009). Approaches to consumer trust in banking sector, with special regard to young customers, Proceedings of FIKUSZ '09,in: László Áron Kóczy (ed.), Proceedings of FIKUSZ '09, pages 205-211 Óbuda University, Keleti Faculty of Business and Management.

DOI: 10.1016/j.cya.2017.05.007

Uddin, M.A. (2015). Principles of Islamic Finance: Prohibition of Riba, Gharar and Maysir. Munich Personal RePEc Archive. Online at https://mpra.ub.uni-muenchen.de/67711/