Economic Growth Hampered by Limited Access to Financial Services
21 December 2014 21:02 WIB
TEMPO.CO, Jakarta - Financial Service Authority’s (OJK) commissioner Kusumaningtuti Sandriharmy Soetiono said public’s poor understanding of financial services and products is hampering the national economic growth due to limited access to financial services and products.
Therefore, over the last few months, the OJK was crafting proper a financial product for middle class people.
“The product, called Micro Financial Service, is aiming at middle class people, such as farmers, fishermen and micro business owners,” Kusumaningtuti said in a speech during a launch of Pasar Keuangan Rakyat 2014 (people’s financial market) at Jakarta International Expo on Saturday, December 20, 2014.
The financial products, Kusumaningtuti explained, include free of administration fee deposits, micro insurance, micro trust fund, gold investment and micro financing.
Based on OJK’s national survey on financial literacy, 21.48 percent of Indonesian people are categorized into well-literate in terms of financial services. At least 59.47 percent of Indonesians have used financial products and services. The OJK noted that most low middle class people have yet used and gained access to financial products and services.
KHAIRUL ANAM
