With our various initiatives and continuous collaboration with stakeholders, we hope that Indonesians, especially young people, can become more financially literate
Jakarta (ANTARA) - The financial education of young people must be strengthened to improve Indonesia’s financial literacy index, head of education at the Financial Services Authority (OJK) Primandanu Febriyan Aziz said here on Friday.

"We hope that with the initiative of all stakeholders, financial education can be kept being encouraged so the financial literacy index can increase, especially among the youth or students," he said.

According to Aziz, financial literacy can help young people learn how to manage finances, take responsibility for financial decisions, and be wary of illegal investment offers.

Based on a survey conducted by the OJK in 2019, the financial literacy index of Indonesian youths was quite good at 44–47 percent, which was above the national financial literacy index of 38.03 percent. However, that number must be increased, he stressed.

Indonesia will reap a demographic bonus in 2030 with about 60 percent of its population reaching the productive age. Hence, the productive group in that year is expected to increase economic growth, he added.

To improve the financial literacy index, OJK has designed strategies, including compiling books on financial literacy, both formal and non-formal, from the level of early childhood to higher education, he informed.

"We have also compiled a pocketbook for prospective married couples, educational (content) through social media like Sikapi Uangmu. We have also launched public service ads, involved influencers, and created animated videos about financial education," Aziz said.

OJK also has strengthened related policies through Indonesia's national financial literacy strategy, which was launched at the end of 2021, as well as financial regulations and inclusion efforts, he added.

Furthermore, OJK has enhanced infrastructure through its financial education learning management system, which can be accessed through lmsku.ojk.go.id, he informed.

"With our various initiatives and continuous collaboration with stakeholders, we hope that Indonesians, especially young people, can become more financially literate," he remarked.

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Translator: Suci N, Kenzu T
Editor: Sri Haryati
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