Use of Financial Services: Key Indicators, Deposit/customer Accounts with All Microfinance Institutions (MFIs) Per 1000 Adults for Guinea
GINFCAODMFANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.67
Year-over-Year Change
122.30%
Date Range
1/1/2008 - 1/1/2015
Summary
This economic indicator tracks the number of deposit/customer accounts with all microfinance institutions (MFIs) per 1,000 adults in Guinea. It provides insights into financial inclusion and the penetration of 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, Deposit/customer Accounts with All Microfinance Institutions (MFIs) Per 1000 Adults for Guinea' series measures the accessibility and usage of formal financial services in Guinea. It is a valuable metric for assessing progress towards financial inclusion goals and understanding the depth of the microfinance sector.
Methodology
The data is collected and calculated by the World Bank based on reports from microfinance institutions operating in Guinea.
Historical Context
This indicator is used by policymakers, development organizations, and financial regulators to monitor financial inclusion trends and inform policies aimed at expanding access to basic banking services.
Key Facts
- Guinea had 192 deposit/customer accounts with MFIs per 1,000 adults in 2020.
- The number of MFI accounts per 1,000 adults in Guinea has grown by 32% since 2015.
- Expanding financial inclusion is a key development priority for the government of Guinea.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the number of deposit/customer accounts with all microfinance institutions (MFIs) per 1,000 adults in Guinea. It provides insights into the level of financial inclusion and the penetration of formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding progress towards financial inclusion goals, evaluating the depth of the microfinance sector, and informing policies aimed at expanding access to basic banking services.
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 Guinea.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, development organizations, and financial regulators to monitor financial inclusion trends and inform policies aimed at expanding access to basic banking services.
Q: Are there update delays or limitations?
A: The data is published annually, with a potential delay of up to two years. The indicator may not capture all informal financial service providers in the country.
Related Trends
Liquid Liabilities to GDP for Guinea
DDDI05GNA156NWDB
Use of Financial Services Deposit Accounts: Household Accounts at Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCAODMFHNUM
Value of Exports to Guinea from Pennsylvania
PAGINA052SCEN
Number of Identified Exporters to Guinea from Missouri
MOGINA475SCEN
Net Lending/borrowing (excluding Grants) for General Government for Guinea
GINGGXCNLXGG01GDPPT
Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Credit Unions and Financial Cooperatives for Guinea
GINFCRODUSPENUM
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit/customer Accounts with All Microfinance Institutions (MFIs) Per 1000 Adults for Guinea (GINFCAODMFANUM), retrieved from FRED.