Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh
BGDFCDODMFPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41,556,356.00
Year-over-Year Change
68.67%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of depositors at deposit-taking microfinance institutions (MFIs) in Bangladesh. It provides insights into the outreach and usage of financial services by low-income populations 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: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh' metric tracks the total number of deposit account holders at regulated microfinance institutions in Bangladesh. This indicator is used to assess financial inclusion and the development of the microfinance sector.
Methodology
The data is collected directly from deposit-taking MFIs operating in Bangladesh.
Historical Context
This trend is relevant for policymakers and development organizations evaluating financial access and the impact of microfinance programs.
Key Facts
- Bangladesh has over 700 registered microfinance institutions.
- Microfinance deposit accounts exceed 30 million in Bangladesh.
- The microfinance sector accounts for over 25% of financial inclusion in Bangladesh.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit account holders at regulated microfinance institutions (MFIs) in Bangladesh.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the outreach and usage of formal financial services by low-income populations in Bangladesh, which is crucial for evaluating financial inclusion and the development of the microfinance sector.
Q: How is this data collected or calculated?
A: The data is collected directly from deposit-taking MFIs operating in Bangladesh.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and development organizations evaluating financial access and the impact of microfinance programs in Bangladesh.
Q: Are there update delays or limitations?
A: The data may have some delay in reporting due to the decentralized nature of the microfinance sector in Bangladesh.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Bangladesh (BGDFCDODMFPENUM), retrieved from FRED.