While we continue (to promote) financial inclusion, students up until the university level can also participate in the financial literacy program
Jakarta (ANTARA) - The Financial Services Authority (OJK) has continued to disseminate information on financial literacy to students under the age of 18 and encouraged them to open bank accounts through financial literacy programs.

"While we continue (to promote) financial inclusion, students up until the university level can also participate in the financial literacy program," OJK Board of Commissioners' Head Mahendra Siregar stated while referring to OJK's Kreasimuda financial inclusion and literacy programme during a webinar observed here, Tuesday.

Siregar highlighted the need to disseminate information on financial literacy to students by providing them requisite knowledge in selecting financial products to help them avoid financial products, with bogus promises and offers.


Related news: Climate change-triggered disruption to development reaches 3-5 percent

"Financial products offering false promises can cause issues in the future. Hence, the best method to avoid them is by deepening knowledge about existing choices instead of isolating oneself," the OJK commissioner board head noted.

Despite the OJK and law enforcers continuing to exert efforts to act against providers of illegal financial products, students, as consumers, must have sufficient knowledge, which would become their first line of defense to screen financial products.


Related news: Bali Police deploy 2,514 officers to secure six G20 events

"That is what we want to do, so more (students) will understand how to keep their money safely and contribute to funds that can be allocated for development," Siregar affirmed.

He also ensured that opening new bank accounts by mobile phone is secure as long as the digital bank offering financial services is registered in the OJK.

"If they have the OJK and LPS (Indonesia Deposit Insurance Corporation) logos, which can be checked on their official website, it means they are safe. However, we need to remain vigilant because probably the number of safe and unsafe financial products is equal," the OJK official remarked.


Related news: Minister invokes Balinese ideal to push global pandemic collaboration

Related news: Five G20 nations agree to build vaccine manufacturing center

Translator: Sanya Dinda S, Nabil Ihsan
Editor: Fardah Assegaf
Copyright © ANTARA 2022