Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Other Financial Intermediaries for Maldives
MDVFCDOFMSPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,659.00
Year-over-Year Change
1085.00%
Date Range
1/1/2012 - 1/1/2014
Summary
This trend measures the number of small and medium enterprises (SMEs) that are depositors with other financial intermediaries in Maldives. It provides insight into the level of financial inclusion and access to banking services for the country's SME 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 'Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Other Financial Intermediaries for Maldives' series tracks the total number of SME depositors at non-bank financial institutions in Maldives. This metric is important for understanding financial sector development and the degree to which the SME segment is integrated into the formal banking system.
Methodology
The data is collected by the Maldives Monetary Authority through surveys of other financial intermediaries.
Historical Context
This trend is used by policymakers, researchers, and financial institutions to assess financial inclusion and access to credit for SMEs in Maldives.
Key Facts
- Maldives has over 23,000 registered SMEs.
- SMEs account for 90% of businesses in Maldives.
- Only 31% of SMEs in Maldives have access to formal banking services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of small and medium enterprises (SMEs) that have deposit accounts with non-bank financial institutions in Maldives.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to banking services for the SME sector in Maldives, which is critical for economic development.
Q: How is this data collected or calculated?
A: The data is collected by the Maldives Monetary Authority through surveys of other financial intermediaries in the country.
Q: How is this trend used in economic policy?
A: Policymakers, researchers, and financial institutions use this trend to assess financial inclusion and access to credit for SMEs, which informs policies aimed at supporting small business development.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags by financial institutions, and the coverage of non-bank intermediaries may not be comprehensive.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Other Financial Intermediaries for Maldives (MDVFCDOFMSPENUM), retrieved from FRED.