Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Gambia, The
GMBFCLODMFXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,582,000,000.00
Year-over-Year Change
1459.18%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures outstanding deposits at deposit-taking microfinance institutions (MFIs) in Gambia. It provides insight into the use of financial services and access to credit in the country's microfinance sector.
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 outstanding deposits at deposit-taking MFIs in Gambia represents the total value of funds held in savings and checking accounts with these institutions. This metric is used by economists and policymakers to assess financial inclusion and the development of the microfinance industry in the country.
Methodology
The data is collected directly from Gambia's deposit-taking MFIs by the Central Bank of Gambia.
Historical Context
This trend is relevant for understanding access to financial services and credit in Gambia's microfinance sector, which is an important component of economic development policy.
Key Facts
- Gambia has over 70 registered deposit-taking MFIs.
- Microfinance deposits account for 8% of Gambia's total bank deposits.
- The average deposit size at Gambian MFIs is $150.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held at deposit-taking microfinance institutions (MFIs) in Gambia. It provides insight into the use of financial services and access to credit in the country's microfinance sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding financial inclusion and the development of the microfinance industry in Gambia, which is a key component of the country's economic development policy.
Q: How is this data collected or calculated?
A: The data is collected directly from Gambia's deposit-taking MFIs by the Central Bank of Gambia.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess access to financial services and credit in Gambia's microfinance sector, which is an important driver of economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-month lag. There may be some variation in reporting practices across Gambia's diverse microfinance sector.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Gambia, The (GMBFCLODMFXDC), retrieved from FRED.