Use of Financial Services: Number of Deposit Accounts at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh
BGDFCAODMFNUM • 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 deposit accounts at deposit-taking microfinance institutions (MFIs) in Bangladesh. It provides insights into the level of financial inclusion and access to formal banking services in the country.
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 Deposit Accounts at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh' trend tracks the total number of deposit accounts held at microfinance institutions that accept deposits in Bangladesh. This metric is used to assess the growth and penetration of formal financial services, particularly in underserved populations.
Methodology
The data is collected through surveys of registered deposit-taking MFIs in Bangladesh.
Historical Context
This trend is relevant for policymakers and development organizations seeking to promote financial inclusion and expand access to banking services.
Key Facts
- Bangladesh has over 700 registered microfinance institutions.
- Over 25 million Bangladeshis have deposit accounts with MFIs.
- The number of MFI deposit accounts has grown by 10% annually since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at microfinance institutions that accept deposits in Bangladesh. It provides insights into financial inclusion and access to formal banking services.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for assessing the growth and penetration of formal financial services, particularly in underserved populations, which is a key development priority in Bangladesh.
Q: How is this data collected or calculated?
A: The data is collected through surveys of registered deposit-taking microfinance institutions (MFIs) in Bangladesh.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and development organizations seeking to promote financial inclusion and expand access to banking services in Bangladesh.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some delays in reporting from smaller or informal MFIs.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Deposit Accounts at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh (BGDFCAODMFNUM), retrieved from FRED.