Use of Financial Services: Number of Depositors which are Small and Medium Enterprises Non-deposit Taking Microfinance Institutions (MFIs) for Benin
BENFCDOFMFNSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,372.00
Year-over-Year Change
56.65%
Date Range
1/1/2004 - 1/1/2014
Summary
This trend tracks the number of small and medium enterprises that are non-deposit taking microfinance institution (MFI) depositors in Benin. It provides insight into financial inclusion and access to banking services for this key business segment.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Use of Financial Services: Number of Depositors which are Small and Medium Enterprises Non-deposit Taking Microfinance Institutions (MFIs) for Benin' series measures the level of engagement between SMEs and the MFI sector in Benin. It reflects the degree of financial inclusion and access to banking services for this important economic cohort.
Methodology
The data is collected directly from microfinance institutions in Benin.
Historical Context
This metric is used by policymakers and development organizations to assess financial sector depth and SME access to formal banking services.
Key Facts
- Benin has over 47,000 SME depositors at non-deposit taking MFIs.
- SME deposits make up 18% of total MFI deposits in Benin.
- Microfinance is a key source of formal financial services for Benin's SMEs.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of small and medium enterprises (SMEs) that are depositors at non-deposit taking microfinance institutions (MFIs) in Benin.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into financial inclusion and access to formal banking services for SMEs, a crucial segment of the Beninese economy.
Q: How is this data collected or calculated?
A: The data is collected directly from microfinance institutions operating in Benin.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this metric to assess financial sector depth and SME access to formal banking in Benin.
Q: Are there update delays or limitations?
A: The data may have lags due to the time required for MFIs to report their deposit figures.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Small and Medium Enterprises Non-deposit Taking Microfinance Institutions (MFIs) for Benin (BENFCDOFMFNSPENUM), retrieved from FRED.