iff-Discussion-Paper 2020/4 von Swati M. Dhawan.

This paper will explore the role of and need for efforts to improve the financial literacy of refugees in Germany. It will address attempts to help refugees better cope with their new financial responsibilities and the challenges they face as they integrate into the German economy. The paper draws upon the findings of research from 2018 conducted by the author to understand the current situation of access to financial services for refugees in Germany, their unique financial needs, and the challenges in financially including them from a demand and supply perspective. The research was based on primary qualitative interviews with refugees, key informant interviews with stakeholders involved in refugee integration, and a desk review. It showed how many of the challenges on the demand side arise due to a lack of understanding of and trust in formal financial services.