“This financial literacy pocket book is designed to protect migrant workers and their families by helping them manage their finances wisely and responsibly,” Minister of KP2MI Mukhtarudin said after the launch event on Monday.
He explained that the initiative is a collaboration between Bank Indonesia (BI), the Financial Services Authority (OJK), BNI, Pegadaian, and the Indonesia Stock Exchange (IDX) as part of the government’s broader effort to safeguard Indonesian migrant workers abroad.
Mukhtarudin noted that one of the key aspects of protecting migrant workers is providing them with the knowledge to manage their finances properly to avoid mismanagement or fraud.
“Many of our migrant workers fall victim to financial scams because they lack sufficient financial literacy. Their identities and bank accounts are often misused for fraudulent activities,” he said.
He also presented data showing that around 70 percent of the income earned by migrant workers is typically spent on consumption.
To address this, the pocket book encourages workers to avoid excessive spending and to prioritize productive financial practices over lifestyle or non-essential needs.
It also introduces various investment options, such as gold savings at Pegadaian and participation in the Indonesia Stock Exchange.
“Through this book, they are being educated to manage and grow their money productively,” the minister said.
He added that KP2MI, together with related institutions, also promotes the use of domestic financial services for remittances.
“Our goal is for Indonesian migrant workers to use our own financial platforms and applications,” Mukhtarudin said, adding that Bank Indonesia is preparing local partners to facilitate money transfers to Indonesia using domestic systems.
“This way, the money flows back into our own economy, not to other countries,” he emphasized.
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Translator: Katriana
Editor: Primayanti
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