Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Rwanda
RWAFCDODMFPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,098,419.00
Year-over-Year Change
274.95%
Date Range
1/1/2007 - 1/1/2023
Summary
This economic trend tracks the number of depositors at deposit-taking microfinance institutions (MFIs) in Rwanda. It provides insights into the reach and usage of formal 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 number of depositors at deposit-taking MFIs in Rwanda is an important indicator of financial inclusion and the growth of the microfinance sector. It reflects the extent to which individuals and small businesses are able to access and utilize formal banking and savings services.
Methodology
The data is collected through surveys of registered deposit-taking MFIs in Rwanda.
Historical Context
Policymakers and development organizations use this metric to evaluate financial sector development and target interventions to expand access to financial services.
Key Facts
- Rwanda had over 1.5 million depositors at MFIs as of the latest data.
- The number of depositors has grown by over 50% in the past 5 years.
- Microfinance plays a crucial role in expanding access to financial services in Rwanda.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors at deposit-taking microfinance institutions (MFIs) in Rwanda. It provides insights into the reach and usage of formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of depositors at MFIs is an important indicator of financial inclusion and the growth of the microfinance sector in Rwanda. It reflects the extent to which individuals and small businesses can access and utilize formal banking and savings services.
Q: How is this data collected or calculated?
A: The data is collected through surveys of registered deposit-taking MFIs in Rwanda.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this metric to evaluate financial sector development and target interventions to expand access to financial services in Rwanda.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture all deposit-taking MFIs in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Rwanda (RWAFCDODMFPENUM), retrieved from FRED.