Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Maldives
MDVFCDODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,768.81
Year-over-Year Change
60.87%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator tracks the number of depositors with commercial banks per 1,000 adults in Maldives. It provides insights into financial inclusion and the use of formal banking services within the population.
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: Key Indicators, Depositors with Commercial Banks Per 1,000 Adults for Maldives' metric measures the level of financial inclusion in Maldives by capturing the percentage of the adult population that has a deposit account with a commercial bank.
Methodology
The data is collected and reported by the World Bank as part of its Global Financial Inclusion (Global Findex) Database.
Historical Context
This indicator is used by economists and policymakers to assess the accessibility and adoption of formal banking services in Maldives.
Key Facts
- Maldives had 742 depositors with commercial banks per 1,000 adults in 2017.
- Financial inclusion has increased in Maldives over the past decade.
- Improving access to banking services is a key policy priority in Maldives.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the number of depositors with commercial banks per 1,000 adults in Maldives, providing insights into the level of financial inclusion in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for understanding the accessibility and adoption of formal banking services in Maldives, which is an important factor for economic development and financial stability.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its Global Financial Inclusion (Global Findex) Database.
Q: How is this trend used in economic policy?
A: This indicator is used by economists and policymakers in Maldives to assess the progress of financial inclusion initiatives and inform policies aimed at improving access to banking services.
Q: Are there update delays or limitations?
A: The data is updated by the World Bank on a periodic basis, and there may be some delay in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Maldives (MDVFCDODCANUM), retrieved from FRED.