Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Morocco
MARFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,755,373.00
Year-over-Year Change
104.82%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts at commercial banks in Morocco. It provides insight into the level of financial inclusion and access to banking 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 Deposit Accounts: Accounts at Commercial Banks for Morocco' series tracks the total number of deposit accounts held with commercial banks in Morocco. This metric is a key indicator of financial inclusion and the degree to which the population has access to formal banking services.
Methodology
The data is collected and reported by the Central Bank of Morocco.
Historical Context
This trend is used by policymakers and economists to assess the development of Morocco's financial sector and progress towards greater financial inclusion.
Key Facts
- Morocco had over 18 million deposit accounts at commercial banks as of the latest data.
- The number of deposit accounts has grown by over 50% in the past decade.
- Access to banking services remains a challenge, with only about 29% of Moroccan adults having a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Morocco. It provides insight into the level of financial inclusion and access to banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the development and accessibility of the financial sector in Morocco. It helps policymakers and economists assess progress towards greater financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Morocco.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and institutions to evaluate the state of financial inclusion and access to banking services in Morocco, which informs policies and programs aimed at expanding financial access.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in coverage or consistency over time, as is common with many economic indicators in developing countries.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Morocco (MARFCAODCNUM), retrieved from FRED.