Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCDODMFPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
875,450.00
Year-over-Year Change
2137.92%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the number of depositors at deposit-taking microfinance institutions (MFIs) in Guinea. It provides insights into financial inclusion and the growth of the microfinance sector 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 number of depositors at deposit-taking MFIs is an important indicator of financial access and the reach of microfinance services. It helps policymakers and economists monitor financial inclusion and the development of the microfinance industry in Guinea.
Methodology
The data is collected by the Central Bank of Guinea through surveys of licensed deposit-taking MFIs.
Historical Context
This trend is used to assess progress towards financial inclusion goals and inform microfinance policy in Guinea.
Key Facts
- Guinea has over 300 licensed deposit-taking MFIs.
- Microfinance access has grown rapidly in recent years.
- Over 20% of Guinean adults have an account at an MFI.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors at deposit-taking microfinance institutions (MFIs) in Guinea. It provides insights into financial inclusion and the growth of the microfinance sector.
Q: Why is this trend relevant for users or analysts?
A: The number of depositors at MFIs is an important indicator of financial access and the development of the microfinance industry in Guinea. It helps policymakers and economists monitor progress towards financial inclusion goals.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea through surveys of licensed deposit-taking microfinance institutions.
Q: How is this trend used in economic policy?
A: This trend is used to assess progress towards financial inclusion goals and inform microfinance policy in Guinea.
Q: Are there update delays or limitations?
A: The data is published periodically with some delay, and may not capture all informal or unlicensed MFI activity.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Guinea (GINFCDODMFPENUM), retrieved from FRED.