Financial inclusion is not just about saving, more than that, it is about making Indonesians prosperJakarta (ANTARA) - Financial literacy infrastructure is very important to expedite the alleviation of poverty and unemployment, macroeconomy and finance coordination deputy at the Coordinating Ministry for Economic Affairs, Iskandar Simorangkir, has said.
"By accelerating financial inclusion, we could expedite national economic recovery," he remarked during the 'Financial Literacy Infrastructure Unveiling' online event here on Monday.
"One of the groups that has not yet been touched by financial inclusion is the lowest 40 percent group," he noted.
One of the ways to create job opportunities for this group is by directly involving them through financial inclusion, he said.
"Financial inclusion is not just about saving, more than that, it is about making Indonesians prosper," the deputy affirmed.
According to Simorangkir, one of the most effective methods of ensuring financial inclusion for the lowest 40 percent is supporting micro, small, and medium enterprises (MSMEs).
Through various cooperations to drive MSMEs, the financial inclusion index of bank account holders was gradually increased from just 19.6 in 2019 to 61.7 in 2020, he said.
This upward trend could also be observed in the bank account utilization index, which rose from 9.73 in 2013 to 81.4 in 2020, he added.
It is expected that the low-income group target could be expanded so that the government's target of 90 percent financial inclusion by 2024 can be achieved, he said.
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Meanwhile, member of the board of commissioners for education and consumer protection at the Financial Services Authority (OJK), Tirta Segara, noted that family plays a very vital role in expediting financial literacy.
"According to a survey, children tend to receive financial education from their parents," he informed.
Hence, OJK has unveiled a smart financial management pocketbook for future couples, he said.
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Translator: Agatha Olivia, Fadhli Ruhman
Editor: Rahmad Nasution
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