Use of Financial Services: Number of Depositors which are Households at Credit Unions and Financial Cooperatives for Bangladesh
BGDFCDODUHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,523,742.00
Year-over-Year Change
35.84%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of household depositors at credit unions and financial cooperatives in Bangladesh. It provides insights into the use of formal financial services by households 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 Depositors which are Households at Credit Unions and Financial Cooperatives for Bangladesh series tracks the total number of household deposit accounts held at credit unions and cooperative financial institutions in the country. This metric helps assess the level of financial inclusion and household participation in the formal banking system.
Methodology
The data is collected by the Bangladesh Bank, the central bank, through surveys and reports from credit unions and financial cooperatives.
Historical Context
This trend is useful for policymakers and analysts studying financial access and inclusion in Bangladesh.
Key Facts
- Bangladesh has over 7,000 registered credit unions and cooperatives.
- Household deposit accounts make up over 80% of total accounts at these institutions.
- Financial inclusion remains a key development goal for the Bangladeshi government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by households at credit unions and financial cooperatives in Bangladesh.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of household participation in the formal financial system in Bangladesh, which is an important indicator of financial inclusion and access to banking services.
Q: How is this data collected or calculated?
A: The data is collected by the Bangladesh Bank through surveys and reports from credit unions and financial cooperatives operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess progress towards financial inclusion goals and inform policies aimed at expanding access to formal banking services for households in Bangladesh.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags, and the coverage of credit unions and cooperatives in the survey may not be comprehensive.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Households at Credit Unions and Financial Cooperatives for Bangladesh (BGDFCDODUHPENUM), retrieved from FRED.