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The Impact of Egyptian Remittances on the Financial Sustainability of Banks
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Journal Article
The Impact of Egyptian Remittances on the Financial Sustainability of Banks
2022
Overview
This study aims to analyse the impact of workers' remittances on the non-governmental foreign currency deposits on quarterly bases during the period from 2006 to 2019 using the ARDL approach. The study's main findings are that workers' remittances have a positive and statistically significant impact on the Egyptian bank deposits in the short run but have a statistically insignificant impact on non-governmental foreign currency deposits in the long run. FDI inflows, inflation rate and deposit interest rate have an insignificant impact on the level of Egyptian bank deposits in foreign currency, while trade openness has a positive and statistically significant impact on non-governmental foreign currency deposits, both in the long run and short run. Foreign exchange growth rate has a direct significant impact on non-governmental foreign currency deposits in the long run, but an insignificant impact on the level of Egyptian bank deposits in the short run. This paper recommends that the CBE, Egyptian government, and banks should take actions to increase the volume of remittances through formal banking sector and adjust deposit interest rate on long-term foreign currency deposits.
Publisher
جامعة عين شمس - كلية التجارة
Subject
