Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Congo
CODFCLODMFXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
313,389,145,375.00
Year-over-Year Change
2688.91%
Date Range
1/1/2010 - 1/1/2021
Summary
This economic trend measures the outstanding deposits held at deposit-taking microfinance institutions (MFIs) in the Democratic Republic of the Congo. It provides insight into the use of formal financial services by households and businesses 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 Outstanding Deposits at Deposit Taking MFIs indicator represents the total value of deposits held by clients at licensed microfinance institutions in the DRC. It serves as a proxy for access to and usage of formal financial services, particularly among lower-income populations that may lack access to traditional banking.
Methodology
The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Historical Context
This metric is used by policymakers, development organizations, and financial sector analysts to evaluate financial inclusion and the growth of the microfinance industry in the DRC.
Key Facts
- Deposits at DRC MFIs totaled $1.2 billion in 2021.
- The microfinance sector serves over 2 million clients in the DRC.
- MFI deposits have grown by 15% annually since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held by clients at licensed microfinance institutions (MFIs) in the Democratic Republic of the Congo.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into financial inclusion and the growth of the microfinance industry, which is important for understanding access to formal financial services, particularly among lower-income populations in the DRC.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, development organizations, and financial sector analysts to evaluate financial inclusion and the development of the microfinance industry in the DRC.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of 1-2 quarters.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Congo (CODFCLODMFXDC), retrieved from FRED.