Account used to receive government payments (% age 15+)

This indicator reflects the proportion of individuals aged 15 and above who utilize formal financial institution accounts to receive government payments, showcasing the integration of citizens into the regulated financial system. By examining this percentage, we gain insights into the accessibility and trust in formal banking services, as well as the effectiveness of government payment distribution strategies. A higher percentage may indicate successful initiatives to encourage bank account use for social welfare and subsidy benefits, potentially leading to improved financial literacy and stability among the population. Conversely, lower figures might highlight challenges such as barriers to banking access or a reliance on informal channels, underscoring the need for policies aimed at enhancing financial inclusion and awareness. Source: