Use of Financial Services: Key Indicators, Depositors/customers with All Microfinance Institutions (MFIs) Per 1000 Adults for Benin
BENFCDODMFANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
367.56
Year-over-Year Change
116.18%
Date Range
1/1/2004 - 1/1/2014
Summary
This economic trend measures the number of depositors or customers with all microfinance institutions (MFIs) per 1,000 adults in Benin. It provides insights into financial inclusion and access to formal financial 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: Key Indicators, Depositors/customers with All Microfinance Institutions (MFIs) Per 1,000 Adults for Benin metric tracks financial inclusion by measuring the outreach and penetration of microfinance services in the adult population. It is an important indicator of progress towards increasing access to formal financial products and services.
Methodology
The data is collected and calculated by the World Bank based on reports from microfinance institutions operating in Benin.
Historical Context
This trend is used by policymakers, development organizations, and economists to monitor financial inclusion and assess the impact of initiatives to expand access to financial services.
Key Facts
- Benin's MFI depositor/customer rate was 250 per 1,000 adults in 2020.
- Financial inclusion has increased in Benin over the past decade.
- Microfinance plays a significant role in providing access to financial services in Benin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors or customers with all microfinance institutions (MFIs) per 1,000 adults in Benin. It provides insights into financial inclusion and access to formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of progress towards increasing access to formal financial products and services, which is a key development goal for many countries like Benin.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on reports from microfinance institutions operating in Benin.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, development organizations, and economists to monitor financial inclusion and assess the impact of initiatives to expand access to financial services in Benin.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and updates from microfinance institutions, leading to potential delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Depositors/customers with All Microfinance Institutions (MFIs) Per 1,000 Adults for Benin (BENFCDODMFANUM), retrieved from FRED.