Use of Financial Services Deposit Accounts: Household Accounts at Deposit Taking Microfinance Institutions (MFIs) for Madagascar
MDGFCAODMFHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,503,193.00
Year-over-Year Change
700.37%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the use of household deposit accounts at deposit-taking microfinance institutions (MFIs) in Madagascar. It provides insight into financial inclusion and access to formal banking 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 Deposit Accounts metric tracks the number of household accounts held at deposit-taking MFIs in Madagascar. This data point is used by economists and policymakers to understand financial inclusion and the reach of formal banking services, particularly in developing economies.
Methodology
The data is collected through surveys of deposit-taking MFIs operating in Madagascar.
Historical Context
This trend informs policy decisions around increasing access to basic financial services and tools for underserved populations.
Key Facts
- Madagascar has a population of over 27 million people.
- Only 17% of Malagasy adults had a bank account as of 2017.
- Microfinance institutions play a key role in expanding financial access.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of household deposit accounts held at deposit-taking microfinance institutions (MFIs) in Madagascar.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into financial inclusion and access to formal banking services in Madagascar, which is important for economic development and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of deposit-taking MFIs operating in Madagascar.
Q: How is this trend used in economic policy?
A: This trend informs policy decisions around increasing access to basic financial services and tools for underserved populations in Madagascar.
Q: Are there update delays or limitations?
A: The data may have delays in reporting due to the survey-based collection method and limited formal financial infrastructure in some areas.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Household Accounts at Deposit Taking Microfinance Institutions (MFIs) for Madagascar (MDGFCAODMFHNUM), retrieved from FRED.