Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Maldives
MDVFCAODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
693,436.00
Year-over-Year Change
83.05%
Date Range
1/1/2011 - 1/1/2023
Summary
This economic trend measures the number of household deposit accounts at commercial banks in Maldives. It provides insights into the financial inclusion and banking habits of Maldivian households.
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: Household Accounts at Commercial Banks for Maldives' metric tracks the total number of deposit accounts held by Maldivian households at commercial banks. This data point is used by economists and policymakers to assess the level of financial inclusion and access to basic banking services within the country.
Methodology
The data is collected through regulatory reporting by commercial banks operating in Maldives.
Historical Context
This trend is relevant for monitoring financial development and the effectiveness of policies aimed at promoting broader access to banking services.
Key Facts
- Maldives had over 280,000 household deposit accounts in commercial banks as of the latest data.
- The number of household deposit accounts has grown by over 50% in the past decade.
- Deposit accounts provide Maldivian households access to basic financial services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by households at commercial banks operating in Maldives.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to basic banking services for Maldivian households, which is an important indicator of economic development.
Q: How is this data collected or calculated?
A: The data is collected through regulatory reporting by commercial banks in Maldives.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to monitor progress in expanding access to financial services and inform policies aimed at promoting broader financial inclusion.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis, but there may be some delays in publishing the latest figures.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Maldives (MDVFCAODCHNUM), retrieved from FRED.