Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Maldives
MDVFCNODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
139,853.00
Year-over-Year Change
258.02%
Date Range
1/1/2011 - 1/1/2023
Summary
This economic trend measures the number of loan accounts held by households at commercial banks in Maldives. It provides insights into household borrowing and access to 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
The Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Maldives is an indicator that tracks the total number of loan accounts maintained by households with commercial banks operating in Maldives. This metric is used to assess the level of household participation in the formal financial system and access to credit.
Methodology
The data is collected by the Central Bank of Maldives through its monitoring of the banking sector.
Historical Context
This trend is relevant for policymakers and economists analyzing financial inclusion and the development of the Maldivian credit market.
Key Facts
- Maldives has a population of around 531,000 as of 2022.
- The banking sector in Maldives is dominated by domestic commercial banks.
- Access to formal financial services remains a challenge in some regions of Maldives.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held by households with commercial banks operating in Maldives.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into household borrowing patterns and the level of financial inclusion in the Maldivian economy.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Maldives through its monitoring of the banking sector.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze financial inclusion and the development of the credit market in Maldives.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting by the Central Bank of Maldives.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Maldives (MDVFCNODCHNUM), retrieved from FRED.