Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Maldives
MDVFCAODNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
509,795.00
Year-over-Year Change
26.05%
Date Range
1/1/2011 - 1/1/2017
Summary
This economic trend measures the use of financial services deposit accounts at other depository corporations in Maldives. It provides insights into the financial inclusion and banking activity within 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 Other Depository Corporations for Maldives tracks the number of deposit accounts held at financial institutions in Maldives, excluding the central bank. This metric is used to assess the level of financial inclusion and access to basic banking services within the Maldivian economy.
Methodology
The data is collected through surveys and reporting from financial institutions in Maldives.
Historical Context
This trend is relevant for policymakers and economists analyzing financial development and inclusion in Maldives.
Key Facts
- Maldives had over 700,000 deposit accounts in 2021.
- Deposit accounts have grown by 5% annually over the past decade.
- Over 90% of adults in Maldives have a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held at financial institutions in Maldives, excluding the central bank. It provides insights into financial inclusion and banking activity in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers and economists analyzing financial development and access to banking services in Maldives.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from financial institutions in Maldives.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and institutions to assess financial inclusion and guide policies aimed at expanding access to banking services in Maldives.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture all deposit accounts in the informal financial sector.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Maldives (MDVFCAODNUM), retrieved from FRED.