Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Bangladesh
BGDFCMAABXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130,802,472,405.54
Year-over-Year Change
17410.37%
Date Range
1/1/2011 - 1/1/2024
Summary
This economic trend measures the total value of outstanding balances in active mobile money accounts in Bangladesh. It provides insights into the adoption and usage of mobile financial 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, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Bangladesh tracks the total monetary value stored in Bangladeshi consumers' active mobile money accounts. This metric reflects the growth and maturity of the mobile banking ecosystem and is a key indicator of financial inclusion.
Methodology
The data is collected and reported by the Bangladesh Bank, the country's central bank.
Historical Context
Policymakers and financial institutions use this trend to monitor the development of mobile money services and their impact on financial inclusion.
Key Facts
- Bangladesh has one of the highest mobile money account penetration rates in the world.
- Mobile money transactions account for over 50% of all digital payments in Bangladesh.
- The mobile money industry in Bangladesh has experienced rapid growth in the last decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding balances in active mobile money accounts in Bangladesh. It provides insights into the adoption and usage of mobile financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of financial inclusion and the development of the mobile banking ecosystem in Bangladesh. It is useful for policymakers, financial institutions, and economists to monitor the growth and impact of mobile money services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangladesh Bank, the country's central bank.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this trend to monitor the development of mobile money services and their impact on financial inclusion in Bangladesh.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the Bangladesh Bank, with potential delays in availability depending on the reporting schedule.
Related Trends
Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Bangladesh
BGDFCDODCANUM
Geographical Outreach: Number of Institutions, Other Financial Corporations for Bangladesh
BGDFCIOFNUM
Literacy Rate, Adult Total for Bangladesh
SEADTLITRZSBGD
Population, Total for Bangladesh
POPTOTBDA647NWDB
Gross Portfolio Equity Liabilities to GDP for Bangladesh
DDDM08BDA156NWDB
Use of Financial Services: Number of Depositors at Other Financial Intermediaries for Bangladesh
BGDFCDOFMPENUM
Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Bangladesh (BGDFCMAABXDC), retrieved from FRED.