Use of Financial Services: Number of Loan Accounts at Commercial Banks for Maldives
MDVFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
200,510.00
Year-over-Year Change
400.04%
Date Range
1/1/2011 - 1/1/2023
Summary
This trend measures the number of loan accounts held at commercial banks in Maldives. It provides insight into the level of financial inclusion and intermediation within the Maldivian economy.
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 Number of Loan Accounts at Commercial Banks for Maldives tracks the total number of outstanding loan accounts held by individuals and businesses at licensed commercial banks operating in the country. This metric offers valuable data on the breadth of financial services access and banking sector activity.
Methodology
The data is collected directly from commercial banks operating in Maldives and aggregated by the country's central banking authority.
Historical Context
Policymakers and analysts use this indicator to assess financial sector development and monitor progress towards greater financial inclusion.
Key Facts
- Maldives has a population of around 531,000 as of 2022.
- The number of loan accounts reached 130,000 in 2021.
- The banking sector in Maldives is largely dominated by domestic commercial banks.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of outstanding loan accounts held by individuals and businesses at licensed commercial banks operating in Maldives.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into the level of financial inclusion and the breadth of banking sector activity within the Maldivian economy.
Q: How is this data collected or calculated?
A: The data is collected directly from commercial banks operating in Maldives and aggregated by the country's central banking authority.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess financial sector development and monitor progress towards greater financial inclusion in Maldives.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but there may be occasional delays in reporting from individual commercial banks.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Maldives (MDVFCNODCNUM), retrieved from FRED.