Digital Finance Sector to Rocket to Rp4,500 Tn by 2030: VP Ma'ruf Amin

TEMPO.CO, Jakarta - Vice President Ma’ruf Amin forecasted the country’s digital finance sector would rocket by eightfold by 2030 from the present Rp600 trillion to Rp4,500 trillion. Thus, he underscored the importance of amped-up literacy effort and business models that were supported by affirmative policies.

“I call on all stakeholders, particularly the Information and Communications Ministry, Bank Indonesia (BI), the Financial Services Authority (OJK) and associations to actively partake in helping produce affirmative policies,” he said in a press release on Monday, December 13, 2021.

Ma’ruf said this collective endeavor was necessary to boost the economic industry and the digital finance sector, which in the end would benefit the people. He added the government and related associations had seen eye to eye to continue pushing for financial inclusion and digital finance literacy.

Earlier, Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan said the nation’s digital finance inclusion had displayed exceptional indicators. However, these indicators were not yet propped by digital finance literacy, at which Indonesia was still lagging behind neighbouring countries such as Singapore and Malaysia.

According to OJK data, the country’s 2019 Finance Literacy Index was at 30.3 percent, while the Finance Inclusion Index stood at 76.19 percent—compared to Singapore’s 98 percent, Malaysia’s 85 percent, and Thailand’s 82 percent.

Read: Indonesia Ready to Become Promising Digital Market in SEA: Trade Minister

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