Pontianak, West Kalimantan (ANTARA) - The Financial Services Authority (OJK) improves financial literacy and inclusion of the people of Singkawang, West Kalimantan, by combining the Tourism Village Program with the My Financially Literate Village Program.

"The My Financially Literate Village Program in Batu Belimbing Tourism Village in East Singkawang Sub-district, Singkawang, is the combination of tourism development and financial education," Head of West Kalimantan OJK, Maulana Yasin, stated in Pontianak, West Kalimantan, on Saturday.

The village, located some 10 kilometers away from Singkawang City, has hilly areas with plantations and lush forests that make the area iconic. The tourism objects are managed by the tourism group and the local government.

He said My Financially Literate Village is a program by the institution that aims to improve the village residents' knowledge of conventional and sharia financial institutions, products, and services. In the program, the villages' leadership and management were taught first before they informed the others in the village, Yasin explained.

"This program improves knowledge on financial institutions, products, and services, among which are bank, funding agencies, pawns, and insurance. It is also important to educate (them) about investment and online loans," he elaborated.

He cited data from a national survey conducted in 2022, which showed that West Kalimantan recorded 51.95 percent in the financial literacy index, the rate of which is higher as compared to the national rate of 49.68 percent. On the other hand, West Kalimantan recorded 84.10 percent in the financial inclusion rate, lower than the national rate of 85.10 percent, he pointed out.

"Indonesian government aims to achieve a financial inclusion rate of 90 percent by 2024, whereas the (current) national inclusion rate is at 85.10 percent. The Indonesian Government also aims at achieving a literacy index of 50 percent and financial inclusion of 90 percent by 2024," he remarked.

He stressed that such target could not be singlehandedly achieved by the institution or financial services industries, thereby necessitating collaboration from everyone to rise to the challenge.

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Translator: Dedi, Mecca Yumna
Editor: Sri Haryati
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