Account at a formal financial institution (% age 15+)

This indicator measures the proportion of individuals aged 15 and older who maintain an account at a recognized financial institution, such as banks, credit unions, or microfinance organizations, reflecting the accessibility and inclusivity of financial services within a community. It encompasses those who have either individual or joint accounts, highlighting the degree of financial engagement among the population. Additionally, it captures the prevalence of debit card ownership, indicating a level of integration into the formal financial system. Such metrics offer valuable insights into financial literacy, economic stability, and opportunities for savings and investment, serving as a crucial benchmark for understanding economic participation and empowerment among youth and adults alike. Source: