OJK: Financial Inclusion and Literacy Must Go Hand in Hand

22 September 2022 13:22 WIB

President Director of the Central Securities Depository, Friderica Widyasari Dewi after the launch of the Sharia Capital Market book at the Indonesia Stock Exchange building, Jakarta, Saturday, February 9 2018. Tempo/Hendartyo Hanggi

TEMPO.CO, JakartaThe Indonesian Financial Services Authority (OJK) commissioner Friderica Widyasari Dewi stated that achieving financial inclusion and literacy is fundamental and both must go hand in hand.

“Having financial inclusion without understanding the product will cause a lot of misunderstandings that can lead to problems in the future,” said Friderica at the financial education event in Central Sulawesi which was broadcasted online on Thursday, September 22, 2022.

As the OJK commissioner, Friderica admitted to receiving complaints from the public every day. Among the reports came from women who dealt with online loans. She emphasized that not all online lending services are legal so before using the products, one must check their status. 

“If it's legal, OJK can provide help. If it is illegal, it is a general crime and we will hand it over to the police,” Friderica explained.

She cited the results of the 2019 National Financial Literacy and Inclusion Survey (SNLIK) that women's financial literacy rate was lower than men's, which was at 36.13 percent, while financial inclusion was at 75.15 percent. The men's financial literacy rate was at 39.94 percent and inclusion was at 77.24 percent.

“This is our job to improve [women's financial literacy and inclusion],” said Friderica.

OJK thus took the initiative to provide family financial education. OJK, she went on, also had a pocketbook on financial management for would-be brides. “Many households part ways due to economic reasons. We mustn’t let this happen, so we have to educate people.”

RIRI RAHAYU

Click here to get the latest news updates from Tempo on Google News



Paylater Raises Consumer Spending; Economist Advises Users' Discretion

8 hari lalu

Paylater Raises Consumer Spending; Economist Advises Users' Discretion

The use of paylater payment method continues to grow.


Task Force Finds Many Illegal Online Lending Platforms Based in US, Hongkong

13 hari lalu

Task Force Finds Many Illegal Online Lending Platforms Based in US, Hongkong

The Investment Watch Task Force has discovered that many illegal online lending service providers operating in Indonesia used servers based abroad.


OJK: Covid Debt Restructuring NPL Climbs to 7.1%

24 hari lalu

OJK: Covid Debt Restructuring NPL Climbs to 7.1%

he Financial Services Authority (OJK) is monitoring the increased bad loans (NPL) ratio of Covid-affected debtors' restructured debts.


Fuel Hike 'Hard but Had to Be Done' : OJK Chief

24 hari lalu

Fuel Hike 'Hard but Had to Be Done' : OJK Chief

OJK Commissioner said that fuel hike policy is the government's way of addressing a budget deficit.


OJK Pushes Banks to Switch to Digital Services

55 hari lalu

OJK Pushes Banks to Switch to Digital Services

The Financial Services Authority (OJK) urged banks to switch from conventional to digital financial services.


OJK Encourages Stronger GCG Practice to Fast-track Economic Recovery

15 Juli 2022

OJK Encourages Stronger GCG Practice to Fast-track Economic Recovery

OJK encourages the reinforcement of good corporate governance or GCG to fast-track economic recovery.


OJK Preps Policies on Insurance Marketing via Insurtech

17 Juni 2022

OJK Preps Policies on Insurance Marketing via Insurtech

The Financial Services Authority (OJK) is preparing regulations on the marketing of insurance products through digital platforms or insurtech.


OJK Says Economy Strengthening as Bank Loans Grow 9%

31 Mei 2022

OJK Says Economy Strengthening as Bank Loans Grow 9%

The Financial Services Authority's Board of Commissioners meeting (RDK) in May 2022 noted that stability in the financial sector.


Indonesia Aims to Grow Financial Inclusion Through 'Pesantren' Students

21 April 2022

Indonesia Aims to Grow Financial Inclusion Through 'Pesantren' Students

Islamic school students (santri) are one of the groups expected to contribute to the country's growing financial inclusion, says Minister Airlangga.


VP Ma'ruf Amin: West Sumatra Must Hold More Events to Attract Tourists

13 April 2022

VP Ma'ruf Amin: West Sumatra Must Hold More Events to Attract Tourists

Vice President Ma'ruf Amin assessed that West Sumatra needed to increase the number of interesting events and massive publications to attract tourists