TEMPO.CO, Jakarta - President Joko “Jokowi” Widodo is scheduled to open the Indonesia Fintech Festival and Conference 2016 at the Indonesia Convention Exhibition, Tangerang, on 29th August 2016. The event is organized by the Financial Service Authority (OJK) and the Indonesia Chamber of Commerce and Industry (Kadin).

“President Jokowi will open [the event] and it will be closed by Queen Maxima of the Netherlands,” said the OJK’s Deputy Commissioners for Non-bank Finance Industry (IKNB) Dumoly F. Pardede on Thursday.

Dumoly said a startup competition will be held during the event. In addition, an international financial technology conference will also be held. It will also provide assistance to fintech startups. “It will also host meetings between investors.”

The event is aimed at establishing shared understanding of harmonious development of fintech ecosystem among industrial stakeholders in Indonesia. “There’s a [shared] commitment among several fintech practitioners to enhancing fintech in Indonesia,” Dumoly explained.

Dumoly said the festival will be held annually in order to produce the best startups. “It’s a prestigious event, we will create an area of fintech, new trends and cultures in Indonesia,” he said.

Kadin’s Startup Technology Innovation Department head Patrick Walujo said 72 startups will participate in the festival. “They will exhibit their products. We expect to see more [startups] next year,” he said.

CHITRA PARAMAESTI