Number of Bank Accounts for Saudi Arabia
DDAI01SAA642NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,153.20
Year-over-Year Change
97.76%
Date Range
1/1/2004 - 1/1/2019
Summary
The 'Number of Bank Accounts for Saudi Arabia' metric tracks the total number of deposit accounts held by individuals and businesses within the Saudi Arabian banking system. This data provides insight into the level of financial inclusion and banking sector activity 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
This economic indicator represents the total number of deposit accounts, including checking, savings, and other types, maintained at commercial banks and other depository institutions in Saudi Arabia. It serves as a proxy for the overall level of financial intermediation and access to banking services within the Saudi economy.
Methodology
The data is collected and reported by the World Bank based on submissions from the Saudi Arabian Monetary Authority.
Historical Context
Policymakers and analysts use this metric to assess the development of the Saudi financial sector and progress towards greater financial inclusion.
Key Facts
- Saudi Arabia had over 31 million bank accounts as of the latest data.
- The number of bank accounts in Saudi Arabia has grown by over 50% in the past decade.
- The Saudi banking sector is dominated by a few large commercial banks.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Bank Accounts for Saudi Arabia' metric tracks the total number of deposit accounts held by individuals and businesses within the Saudi Arabian banking system.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the level of financial inclusion and banking sector activity in Saudi Arabia, which is useful for policymakers and analysts assessing the development of the Saudi financial sector.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on submissions from the Saudi Arabian Monetary Authority.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess progress towards greater financial inclusion in Saudi Arabia and the overall development of the Saudi banking and financial system.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be some limitations in coverage or reporting across the Saudi banking sector.
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Citation
U.S. Federal Reserve, Number of Bank Accounts for Saudi Arabia (DDAI01SAA642NWDB), retrieved from FRED.