Use of Financial Services: Number of Loan Accounts for Households at Credit Unions and Financial Cooperatives for Bangladesh
BGDFCNODUHNUM • 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 loan accounts held by households at credit unions and financial cooperatives in Bangladesh. It provides insights into the usage of financial services and household borrowing patterns 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 Loan Accounts for Households at Credit Unions and Financial Cooperatives for Bangladesh' metric tracks the total count of loan accounts maintained by Bangladeshi households at credit unions and cooperative financial institutions. This data point is used by economists and policymakers to assess access to and adoption of formal financial services in the country.
Methodology
The data is collected and reported by the Bangladesh Bank, the central bank of Bangladesh.
Historical Context
This trend is relevant for understanding financial inclusion and the role of cooperative lending institutions in Bangladesh's economy.
Key Facts
- Bangladesh has over 8,000 registered credit cooperatives.
- Cooperative lending accounts for nearly 25% of total microfinance in Bangladesh.
- The number of loan accounts at credit unions has grown by over 50% in the last decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held by Bangladeshi households at credit unions and financial cooperatives in the country.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into financial inclusion and the role of cooperative lending institutions in Bangladesh's economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangladesh Bank, the central bank of Bangladesh.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess access to and adoption of formal financial services in Bangladesh.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the Bangladesh Bank with minimal delays.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Credit Unions and Financial Cooperatives for Bangladesh (BGDFCNODUHNUM), retrieved from FRED.