INDUSTRY.co.id - The Government continues to strengthen public financial inclusion and literacy by providing bank accounts for all Indonesian citizens. The initiative was one of the key topics discussed during a limited meeting chaired by President Prabowo Subianto with cabinet members and staff at the Merdeka Palace, Jakarta, on Monday (09/07).
Coordinating Minister for Economic Affairs Airlangga Hartarto said the discussion focused on bank account ownership among Indonesian families, referring to data from a survey and census conducted by the Financial Services Authority (OJK) in collaboration with Statistics Indonesia (BPS).
"The discussion with the President dealt with bank account ownership among Indonesian families or citizens. Based on the survey or census conducted by OJK and BPS, our financial inclusion rate has reached 93.62 percent, while our financial literacy stands at 63.57 percent," the Minister stated.
According to the Minister, these figures indicate that Indonesia has a relatively strong level of financial inclusion and literacy compared to standards applied by member countries of the Organisation for Economic Co-operation and Development (OECD). He added that the Government will continue to push for further improvements to optimize these achievements.
"Actually, these figures are relatively good. If we compare them with the OECD, for instance, the OECD’s standard for financial literacy is around 63 percent, whereas our survey showed 69.57 percent," he said.
During the meeting, the President instructed that all Indonesian citizens be provided with bank accounts. To support this, the Government will prepare accounts through PT Bank Rakyat Indonesia (Persero) Tbk (BRI) and Bank Syariah Indonesia (BSI).
"The President instructed that citizens should have bank accounts. Therefore, BRI and BSI have been directed to prepare accounts for the public. The data to be used will come from the Directorate General of Population and Civil Registration (Dukcapil) of the Ministry of Home Affairs, and this data will subsequently be matched with the systems at Bank Indonesia, particularly for its payment system," he explained.
In addition to data integration, the Government will also encourage the use of digital payment systems through the Quick Response Code Indonesian Standard (QRIS). The measure is expected to expand public access to financial services while further enhancing financial literacy.
"Second, the gateway system will utilize QRIS. This is being prepared so that our financial literacy and inclusion can reach optimal levels, higher than what we have already achieved. Moving forward, various programs will be channeled to the accounts prepared for citizens," he concluded.
