Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Saudi Arabia
SAUFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
413.97
Year-over-Year Change
93.94%
Date Range
1/1/2009 - 1/1/2023
Summary
This economic trend measures the number of loan accounts with commercial banks per 1,000 adults in Saudi Arabia, providing insight into financial inclusion and the accessibility of banking services.
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, Loan Accounts with Commercial Banks Per 1,000 Adults for Saudi Arabia' metric tracks the availability and penetration of formal lending in the Saudi Arabian economy. It is used by policymakers and economists to gauge financial development and assess progress towards inclusive growth.
Methodology
The data is collected by the World Bank from national central bank and financial regulator sources.
Historical Context
This indicator helps inform policies and initiatives aimed at expanding access to credit and banking for households and businesses in Saudi Arabia.
Key Facts
- Saudi Arabia had 362 loan accounts per 1,000 adults in 2021.
- The number of accounts has risen over 40% since 2011.
- Expanding financial inclusion is a key priority for Saudi economic reforms.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts with commercial banks per 1,000 adults in Saudi Arabia, providing insight into financial inclusion and access to formal lending.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for understanding the development and accessibility of the Saudi banking system and financial services, which is crucial for achieving broad-based economic growth.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from national sources, including the Saudi central bank and financial regulators.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to inform policies and initiatives aimed at expanding access to credit and banking services for households and businesses in Saudi Arabia.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture the most recent developments in the Saudi financial sector.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Saudi Arabia (SAUFCNODCANUM), retrieved from FRED.