OJK Prioritizes Literacy And Financial Inclusion For Indonesian Women

Chief Executive of the Behavior Supervisory of Financial, Education and Protection Business Actors of the Financial Services Authority (OJK), Friderica Widyasari Dewi. (Photo: Doc. Antara)

JAKARTA - Chief Executive of the Behavior Supervisory of Financial, Education and Protection Business Actors of the Financial Services Authority (OJK) Friderica Widyasari Dewi said that her party prioritizes increasing financial literacy and inclusion in Indonesian women.

According to him, currently, the level of financial literacy and inclusion in women's groups is still low, so the financial education program continues to be intensively carried out by the OJK.

"Why do we include women's segments in priority? First, this woman is one of the main economic actors to improve family welfare by doing business," Friderica told the media crew in Jakarta, quoted from Antara, Tuesday, April 23.

In addition, he added, women also have an important role in empowering their families and becoming the first source of financial literacy information for their children at home.

"So, with us educating the mothers, indirectly we are also preparing the next generation to be financially literate," said Friderica.

Based on the National Survey of Financial Literacy and Inclusion (SNLIK), the women's financial literacy and inclusion index in 2019 was 36.13 percent and 75.15 percent, respectively. This figure is lower when compared to men with literacy index reaching 39.94 percent and inclusion 75.15 percent.

Therefore, from 2020 to 2022, OJK will make women a priority target in the strategic direction of financial literacy.

Then, the women's financial literacy index in 2022 will be higher by 50.33 percent compared to men 49.05 percent.

However, the male financial inclusion index is still higher at 86.28 percent, compared to the women's financial inclusion index at 83.88 percent.

The results of the survey, said Frederica, are a note for OJK so that the gap between literacy and financial inclusion can be narrowed to both women and men.

On Tuesday, the OJK in collaboration with the Department of Industry, Trade, Cooperatives, Small and Medium Enterprises of DKI Jakarta Province (PPKUKM) held financial education activities for women in the DKI Jakarta area.

Friderica said the financial education activities that were attended by women who were MSME actors in Jakarta were also to commemorate Kartini Day.

This activity is a vehicle for the authorities to increase the aspect of financial inclusion in women.

"Ladies and women who participate in educational activities, they actually already have businesses such as food, handicrafts, fashion, beauty, and others. They already have the ability to create something that has economic value. However, how then the financial services sector must support them to be able to accelerate their business," he said.

Friderica hopes that financial services sector players can help women who do MSMEs in terms of capital so that their business capacity grows bigger.

Furthermore, after the women who are MSME actors have been infected, other stakeholders are expected to accompany them and help build awareness of good financial management so that the business can be sustainable.