Geographical Outreach: Number of Commercial Banks for West Bank and Gaza
WBGFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.00
Year-over-Year Change
-27.78%
Date Range
1/1/2004 - 1/1/2023
Summary
The 'Geographical Outreach: Number of Commercial Banks for West Bank and Gaza' trend measures the total number of commercial banks operating in the West Bank and Gaza region. This data is crucial for economists and policymakers to assess financial inclusion and the development of the banking sector in these territories.
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
This series tracks the total number of commercial banks with physical branches or operations in the West Bank and Gaza. It serves as an indicator of the geographical reach and accessibility of banking services for the local population and businesses. Analyzing trends in this data can provide insights into financial development and integration in the region.
Methodology
The data is collected and reported by the Palestine Monetary Authority.
Historical Context
Policymakers and international organizations use this metric to evaluate progress toward financial inclusion and private sector development goals in the West Bank and Gaza.
Key Facts
- The number of commercial banks in the West Bank and Gaza reached a high of 18 in 2018.
- Commercial bank density is significantly lower in Gaza compared to the West Bank.
- Bank branch and ATM accessibility remains a challenge for many Palestinians.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of commercial banks with a physical presence and operations in the West Bank and Gaza region.
Q: Why is this trend relevant for users or analysts?
A: Tracking the number of commercial banks is crucial for understanding financial inclusion and development in the West Bank and Gaza, which is a key policy goal for the Palestinian Authority and international organizations.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Palestine Monetary Authority, the central banking institution of the Palestinian National Authority.
Q: How is this trend used in economic policy?
A: Policymakers and international organizations use this metric to evaluate progress toward financial inclusion and private sector development goals in the West Bank and Gaza.
Q: Are there update delays or limitations?
A: The data is published with a slight delay, and may not capture all informal or unregistered banking activity in the region.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for West Bank and Gaza (WBGFCIODCNUM), retrieved from FRED.