Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Saudi Arabia
SAUFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,126,599.00
Year-over-Year Change
250.94%
Date Range
1/1/2009 - 1/1/2023
Summary
This economic trend measures the use of financial services deposit accounts, specifically the number of accounts at commercial banks for Saudi Arabia. It provides insights into the level of financial inclusion and banking sector activity 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 Deposit Accounts: Accounts at Commercial Banks for Saudi Arabia tracks the total number of deposit accounts held at commercial banks in the country. This metric is an important indicator of financial inclusion and the development of the banking sector, which are crucial for economic growth and stability.
Methodology
The data is collected by the Saudi Arabian Monetary Authority (SAMA) through surveys of commercial banks operating in the country.
Historical Context
Policymakers and analysts use this trend to assess the depth and breadth of the Saudi Arabian financial system and to inform policies aimed at promoting financial inclusion.
Key Facts
- Saudi Arabia had over 34 million deposit accounts at commercial banks as of 2020.
- The number of deposit accounts has grown by over 50% since 2010.
- Financial inclusion is a key priority for the Saudi government's economic reform agenda.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Saudi Arabia, providing insights into financial inclusion and banking sector activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the development and depth of the Saudi Arabian financial system, which is crucial for economic growth and stability.
Q: How is this data collected or calculated?
A: The data is collected by the Saudi Arabian Monetary Authority (SAMA) through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the level of financial inclusion and inform policies aimed at promoting the growth and accessibility of the banking sector.
Q: Are there update delays or limitations?
A: The data is published regularly by SAMA, with a typical update delay of a few months. There may be some limitations in coverage or reporting by individual banks.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Saudi Arabia (SAUFCAODCNUM), retrieved from FRED.