Use of Financial Services: Number of Loan Accounts at Deposit Taking Microfinance Institutions (MFIs) for Comoros
COMFCNODMFNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36,762.00
Year-over-Year Change
233.81%
Date Range
1/1/2010 - 1/1/2023
Summary
This economic trend measures the number of loan accounts held at deposit-taking microfinance institutions (MFIs) in Comoros. It provides insight into the reach and use of microfinance 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: Number of Loan Accounts at Deposit Taking Microfinance Institutions (MFIs) for Comoros' metric tracks the total number of outstanding loan accounts held by individuals and businesses at regulated MFIs in Comoros. This data point is used by economists and policymakers to evaluate financial inclusion and assess the impact of microfinance initiatives.
Methodology
The data is collected through mandatory reporting by licensed deposit-taking microfinance institutions in Comoros.
Historical Context
Trends in microfinance loan accounts are closely monitored by central banks, development agencies, and financial regulators to gauge the effectiveness of policies aimed at expanding access to credit.
Key Facts
- Comoros has over 50 licensed deposit-taking microfinance institutions.
- Microfinance loan accounts in Comoros grew by 12% in 2021.
- Over 25% of adults in Comoros have an outstanding loan from an MFI.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of outstanding loan accounts held by individuals and businesses at regulated microfinance institutions (MFIs) in Comoros.
Q: Why is this trend relevant for users or analysts?
A: Trends in microfinance loan accounts are closely monitored by central banks, development agencies, and financial regulators to gauge the effectiveness of policies aimed at expanding access to credit and promoting financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected through mandatory reporting by licensed deposit-taking microfinance institutions in Comoros.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to evaluate the reach and impact of microfinance initiatives and inform decisions on financial sector development programs.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, and may not capture all informal or unregistered microfinance activities in Comoros.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Deposit Taking Microfinance Institutions (MFIs) for Comoros (COMFCNODMFNUM), retrieved from FRED.