OJK Wants Many Students To Open Savings For The Next 5 Years

OJK Chairman Wimboh Santoso. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) revealed a number of focuses included in the 2021 to 2025 roadmap for the regional financial access acceleration team (TPAKD). Among them were the acceleration of opening student savings accounts and low-cost financing.

Chairman of the OJK Board of Commissioners Wimboh Santoso said several things were the main focus in the TPAKD 2021 to 2025 roadmap, which would be implemented in 2021 in a more massive, targeted and innovative manner.

"The implementation of the TPAKD thematic program accelerates the opening of a savings and / or financing account that is easy, fast, and low cost, among others through digitizing financial products / services," he said, at the TPAKD 2020 National Coordination Meeting event virtually, Thursday, December 10.

Then, the implementation of business matching with the theme of regional economic recovery after the COVID-19 pandemic will also be a priority in 2021.

This roadmap, said Wimboh, was jointly prepared by the OJK, the Coordinating Ministry for Economic Affairs (through the Secretariat of the National Financial Inclusion Council), the Ministry of Home Affairs and supported by the Asian Development Bank (ADB).

Meanwhile, the TPAKD program in 2020 focuses on enhancing the empowerment of MSMEs in the regions through strengthening the role of the financial services sector.

"This theme is in line with the National Economic Recovery agenda, which focuses on efforts to facilitate the distribution of financing for the community and MSMEs affected by the COVID-19 pandemic," he said.

Wimboh said, the purpose of establishing the TPAKD was to increase the commitment and concern of all stakeholders in providing the widest possible financial access for all levels of society. Then, encourage the development of superior potential in the regions, and create an inclusive financial system in Indonesia.

"The launch of the TPAKD 2021-2025 roadmap which will serve as a guideline for all relevant stakeholders which contains strategies and policy directions for the development of the TPAKD for the next five years," he explained.

Meanwhile, Member of the OJK Board of Commissioners for Education and Consumer Protection Tirta Segara said that currently only 36.27 million students have registered savings accounts at banks. In fact, President Jokowi is targeting financial inclusion to reach 90 percent by 2024.

"There are 36.27 million student accounts or about 49 percent of the total number of students. We will continue to push if possible next year if possible up to 70 percent," he said.

According to him, of the total, 25.7 million of them came from the Student Savings program (Simpel) with a deposit value of IDR 5.34 trillion. "The rest is from the Pursuit program. If Chase, the value of the account is IDR 20.7 trillion," he said.

The Simple Program, said Tirta, came before Kejar. However, the goal is not specific for financial inclusion, but for students to be educated and have a culture of saving.

"We continue to encourage it because we want to create a new culture, a culture of saving, a culture of frugal living, which is expected to become a character. So if you want to buy something as a result of saving," he explained.

According to Tirta, by familiarizing children to save, it also teaches them to appreciate a process. For example, when they want to buy something, they usually save money, the character is formed to collect money first instead of asking their parents.

"So this is a good culture from an early age and it is hoped that it will become a character. If you want to buy something, it is the result of saving money," he explained.

To smooth the pursuit program, OJK is working with the Ministry of Education and Culture and the Ministry of Religion by launching a program.

"So 113 circular letters from the local government have been issued and a memorandum of understanding has been issued, then a joint work commitment is also there," he said.