OJK: The Beautiful Program Is Expected To Improve Sharia Financial Literacy

Chief Executive of the Behavior Supervisory of Financial, Education, and Protection Business Actors of OJK Consumers Friderica Widyasari. (Photo: Doc. ANTARA)

JAKARTA - The Financial Services Authority (OJK) continues to strengthen Islamic financial literacy by optimizing the role of mothers as ambassadors for Islamic financial literacy through the implementation of the Sahabat Ibu Cap of Sharia Financial Literacy (Sibetis) program.

"With the presence of the Sibetas Program, it is hoped that it can increase literacy, including knowledge related to Islamic financial products as well as family financial planning and management," said Chief Executive of the Behavior Supervisory of Financial Services Business Actors, Education, and Protection of OJK Consumers Friderica Widyasari Dewi, quoted from ANTARA, Friday, October 13.

Friderica said the Sibetas Program was designed to encourage the presence of female Islamic financial literacy ambassadors, one of which is by providing community-based sustainable financial literacy training.

The Sibetas program is expected to empower mothers as educational agents who can share knowledge with the wider community, as well as encourage mothers to take part in utilizing Islamic financial products and services as an effort to increase inclusion.

He said that as a financial services regulator, OJK not only regulates and oversees the financial services industry, but also protects consumer and public interests. In line with this, OJK has a series of programs to increase Islamic financial literacy and inclusion including Sibes.

In the Month of Financial Inclusion throughout October 2023, OJK hopes that the Sibetas Program can be the initial gateway for the Taklim Council women to reach the highest peak of the literacy pyramid. These skills start from the ability to manage household finances, as well as to understand the rights and obligations of mothers in financial management.

After that, at a more mature level, women will gain financial empowerment and the use of financial products or services for sustainable financial welfare.

Based on the National Literacy and Inclusion Survey (SNLKI) conducted by OJK in 2022, the Islamic financial literacy index has only reached 9.14 percent, while the conventional financial literacy index has reached 49.68 percent.

Therefore, the Head of the Ministry of Literacy, Inclusion and Finance of the Financial Services Authority (OJK) Aman Sentosa previously said that the distance between Islamic financial and conventional financial literacy needs to be reduced.

The distance between the Islamic financial literacy index and conventional finance needs to be reduced by efforts to increase Islamic financial literacy, including by providing information related to Islamic financial products to students and students.

He said low Islamic financial literacy could cause people to be easily deceived by individuals who organize illegal financial services to lose confidence in financial service institutions.

"Literation of low finances is the basis of high dissatisfaction and public complaints to OJK regarding financial services, including complaints related to fraudulent investments, illegal online loans (borrows)," he said.