Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Bangladesh
BGDFCNODUNUM • 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 at credit unions and financial cooperatives in Bangladesh. It provides insights into the usage and accessibility of 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: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Bangladesh' series tracks the total number of loan accounts maintained with credit unions and financial cooperatives in Bangladesh. This metric offers valuable data on the level of financial inclusion and the public's engagement with formal lending institutions.
Methodology
The data is collected through surveys and reporting from credit unions and financial cooperatives operating in Bangladesh.
Historical Context
This trend is relevant for policymakers and financial institutions seeking to understand patterns of financial services usage and access in the Bangladeshi market.
Key Facts
- Bangladesh has over 7,000 registered credit unions and financial cooperatives.
- Loan accounts at these institutions have grown by 8% annually over the past decade.
- Credit unions serve over 25% of the Bangladeshi population.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held at credit unions and financial cooperatives in Bangladesh. It provides insights into the usage and accessibility of formal lending services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding patterns of financial inclusion and the public's engagement with cooperative lending institutions in Bangladesh. It offers valuable data for policymakers, economists, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from the credit unions and financial cooperatives operating in Bangladesh.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and financial regulators to monitor the accessibility and usage of formal lending services, which informs policies aimed at promoting financial inclusion in Bangladesh.
Q: Are there update delays or limitations?
A: There may be lags in data reporting from individual credit unions and cooperatives, leading to potential delays in updates to this series. The coverage may also not reflect 100% of all lending activity in the sector.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Bangladesh (BGDFCNODUNUM), retrieved from FRED.