Use of Financial Services Deposit Accounts: Household Accounts at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh
BGDFCAODMFHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41,556,356.00
Year-over-Year Change
68.67%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of household deposit accounts at deposit-taking microfinance institutions (MFIs) in Bangladesh. It provides insight into the use of formal financial services by households in the microfinance sector.
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 Deposit Accounts: Household Accounts at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh trend tracks the total number of deposit accounts held by households at MFIs in the country. This metric is used to assess financial inclusion and the level of household engagement with the formal banking system.
Methodology
The data is collected through surveys and reporting from deposit-taking MFIs in Bangladesh.
Historical Context
This trend is relevant for policymakers and analysts studying financial inclusion and the role of microfinance in developing economies.
Key Facts
- Bangladesh has a large microfinance sector with over 25 million borrowers.
- Microfinance plays a key role in expanding financial inclusion in developing economies.
- Deposit-taking MFIs provide critical savings and transaction services to unbanked households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by households at deposit-taking microfinance institutions (MFIs) in Bangladesh.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the level of financial inclusion and household engagement with the formal banking system through microfinance in Bangladesh.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from deposit-taking MFIs in Bangladesh.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and analysts studying financial inclusion and the role of microfinance in developing economies like Bangladesh.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags from MFIs, and does not capture informal savings outside the regulated financial system.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Household Accounts at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh (BGDFCAODMFHNUM), retrieved from FRED.