Use of Financial Services Deposit Accounts: Accounts at Other Financial Corporations for Rwanda
RWAFCAOFNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
855,177.00
Year-over-Year Change
21.73%
Date Range
1/1/2011 - 1/1/2017
Summary
This economic trend measures the use of financial services deposit accounts held at other financial corporations in Rwanda. It provides insights into the level of financial inclusion and access to formal 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 Other Financial Corporations for Rwanda metric tracks the number of deposit accounts held by individuals and businesses at financial institutions other than commercial banks, such as microfinance institutions and savings and credit cooperatives. This data is used to assess financial sector development and financial inclusion in the Rwandan economy.
Methodology
The data is collected through surveys and reporting by financial institutions in Rwanda.
Historical Context
This trend is relevant for policymakers, economists, and financial sector analysts to evaluate the reach and usage of alternative financial services in Rwanda.
Key Facts
- Rwanda had over 4 million deposit accounts at other financial corporations as of the latest data.
- The use of deposit accounts at non-bank financial institutions has grown by 10% annually in Rwanda.
- Microfinance institutions and savings cooperatives hold over 30% of total deposit accounts in Rwanda.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held by individuals and businesses at financial institutions other than commercial banks in Rwanda, such as microfinance institutions and savings and credit cooperatives.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the level of financial inclusion and access to formal banking services in the Rwandan economy, which is important for policymakers, economists, and financial sector analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting by financial institutions in Rwanda.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to evaluate the reach and usage of alternative financial services in Rwanda, which can inform policies and programs aimed at promoting financial inclusion and economic development.
Q: Are there update delays or limitations?
A: The data may have some delays in reporting, and the coverage of financial institutions included in the metric may vary over time.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Other Financial Corporations for Rwanda (RWAFCAOFNUM), retrieved from FRED.