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Article Abstract
The objective of this paper is to examine the effect of borrowers' financial literacy on credit repayment. To achieve this objective, we test the hypothesis that financial literacy has a significant effect on credit repayment. To achieve this, binary logistic regression was used on the data of 246 credit borrowers of ASJD Mutual over the period 2015-2017. The results show that variables such as budgeting literacy and credit management literacy have a significant influence on credit repayment at 5% and 10%. In addition to these variables, age, marital status, savings and gender also explain credit repayment. Our results are supposed to help strengthen the knowledge, skills and self efficacy of members who work with microfinance institutions in general and the ASJD in particular, so that they are better prepared to make budget forecasts and better manage the loans they take out from the microfinance institution.
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