OJK Wants To Improve Community Financial Welfare

Financial illustration (Photo: dock. Antara)

JAKARTA - The Financial Services Authority (OJK) is committed to increasing public financial wellbeing through the expansion of the reach of online and offline financial literacy and education programs which are expected to reach people throughout Indonesia.

Member of the OJK Board of Commissioners for Consumer Education and Protection, Friderica Widyasari Dewi said that throughout October 2023, OJK together with all relevant Ministry/Institution stakeholders, SRO, Association, Financial Services Institutions (LJK) and e-commerce have organized more than 2,851 financial literacy and inclusion strengthening programs throughout Indonesia.

"It is hoped that it will encourage the achievement of the financial inclusion target of 90 percent by 2024," he explained at a press conference at the OJK Board of Commissioners Meeting, Monday, October 30.

Friderica said the main orientations for the location of the event are areas with literacy and inclusion levels that are still below the national average, and prioritize areas with the leading, outermost, and underdeveloped categories (3T area).

In general, achievements during the implementation of the 2023 BIK activities increased from the previous year. During the BIK implementation period in 2023, 2,851 activities were recorded with a total of 1,841,357 participants, an increase of 15.09% compared to the implementation in 2022.

Details of the total recapitulation of financial access achievements during BIK 2023 reached 7,936,718 access to service/financial services or an increase of 13.34% yoy.

In addition to financial inclusion activities, until October 29, 2023, OJK has carried out 2,374 financial educational activities that reach 570,890 participants nationally.

Friderica conveyed that OJK's literacy and financial inclusion efforts also involve strategic support from various parties, including Ministries/Agencies, Financial Services Business Actors (PUJK), academics, and other stakeholders.

"Among other things, through the role of the Regional Financial Access Acceleration Team (TPAKD) which until October 20, 2023 has formed 505 TPAKD in 34 provinces and 471 regencies/cities or 91.63 percent of districts/cities in Indonesia," he said.