JOURNAL OF THE INSTITUTE OF BANKERS BANGLADESH-Vol 65 Published June-2023

Published Online: June 13th, 2023 || Published in Print: July 4th, 2023

Abstract

Financial literacy accelerates inclusive finance through increasing savings, investment, self-employment, and engaging citizens as active participants in the developmental process of a country. The study investigates the level of financial literacy and financial inclusion among university students, particularly at Jagannath University in Bangladesh. Conducting a survey of 360 undergraduate and graduate level students, the study found that 57.80 percent and 88.33 percent of respondents have a bank accounts and mobile financial service accounts respectively while only 9.74 percent of respondents have an adequate level of financial literacy. The logistic regression analysis identified that age, education level, study background, financial course, financial behavior, influence, and attitude have a statistically significant impact, while gender, family income, and residence type have a statistically insignificant impact on the respondents’ financial literacy level. So, there exists a significant space to improve financial literacy as well as financial inclusion among university students which will support the country to develop sound financial knowledge-oriented human capital to attain the sustainable development goals (SDGs) by 2030 and to become the inclusive economic growth-oriented upper middle-income country by 2031.