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What Are the Implications of Government's Right to Collect Information on Public Trust in Banks?

Author

Listed:
  • Muzamir M. Mafabi

    (Islamic University in Uganda, Department of Business Studies)

  • Tumani Sanneh

    (The University of The Gambia, Department of Economics and Finance)

  • Sadaf Sharjeel

    (The University of Lahore, Department of Economics, Pakistan)

Abstract

The study employs Ordered Logistic and Ordered Probit regression to examine trust in banks, influenced by demographic attributes, social characteristics, and attitudes. The study findings indicate that older people are more inclined to trust banks due to extended contact and experience. A negative and significant relationship exists between being married, income level, having children, and being female, with trust in banks. Married individuals and higher income earners face financial responsibilities and develop critical perspectives towards banks due to distrust. Parents, burdened by financial obligations, and women historically dealing with systemic discrimination and financial insecurity, show skepticism toward banks. A higher education level increases a person's trust in banks as they gain financial literacy and knowledge of banking systems. Religiosity reduces trust in banks due to ethical doubts and a preference for alternative financial methods. Trust in banks increases the acceptance of the government's power to gather financial information. The impact of demographic, social, and regulatory factors highlights the complexity of trust in banks.

Suggested Citation

  • Muzamir M. Mafabi & Tumani Sanneh & Sadaf Sharjeel, 2024. "What Are the Implications of Government's Right to Collect Information on Public Trust in Banks?," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(2), pages 468-474.
    • Handle: RePEc:rfh:bbejor:v:13:y:2024:i:2:p:468-474
    DOI: https://doi.org/10.61506/01.00356
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    References listed on IDEAS

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