Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Morocco
MARFCMARNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,805,024.00
Year-over-Year Change
1383.67%
Date Range
1/1/2019 - 1/1/2023
Summary
The 'Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Morocco' trend measures the total number of registered mobile money accounts in Morocco. This data point is important for economists and policymakers to understand the growth and adoption of digital 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
This trend represents the total number of registered mobile money accounts in Morocco. It provides insight into the penetration and utilization of mobile banking and digital payment services, which are key indicators of financial inclusion and technological advancement in the Moroccan economy.
Methodology
The data is collected and reported by the Bank Al-Maghrib, the central bank of Morocco.
Historical Context
Policymakers and financial institutions use this data to monitor the development of the mobile money ecosystem and identify opportunities to expand digital financial services.
Key Facts
- Morocco had over 13 million registered mobile money accounts as of 2020.
- Mobile money adoption has grown rapidly in Morocco, with a 37% increase in registered accounts from 2019 to 2020.
- Digital payments and mobile banking are seen as key drivers of financial inclusion in Morocco.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of registered mobile money accounts in Morocco, providing insight into the growth and adoption of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This data is relevant for economists, policymakers, and financial institutions to understand the development of the mobile money ecosystem and identify opportunities to expand digital financial inclusion in Morocco.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank Al-Maghrib, the central bank of Morocco.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions use this data to monitor the growth of mobile money and digital payments, and to inform strategies for expanding financial inclusion and technological advancement in the Moroccan economy.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis, but there may be occasional delays in data availability or changes in methodology over time.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Morocco (MARFCMARNUM), retrieved from FRED.