Account used to receive wages (% age 15+)

This indicator reflects the proportion of individuals aged 15 and older who utilize accounts at formal financial institutions to receive compensation for work or income from selling goods within the past year. It serves as a critical metric for understanding financial inclusion and the reliance on formal banking systems, highlighting the extent to which individuals engage with conventional financial services for their income streams. A higher percentage indicates a shift toward banking reliance, which can enhance economic stability and security for recipients. Furthermore, this data may reveal trends in workforce participation and entrepreneurial activities, underlining the importance of accessible banking solutions in fostering economic empowerment and reducing the reliance on informal payment methods. Source: