EXPANSION OF FINANCIAL LITERACY CAN REDUCE GAPS

Chairman of Board of Commissioners of the Financial Service Authority (OJK), Muliaman D. Hadad, believed that dissemination of financial literacy conducted optimally can improve public access to finances, so it could reduce economic gap in the future. “Access to financial products and services should not be exclusive, but must be inclusive, so that no family or community members who are not under financial services observation,” he said in Jakarta, Monday (February 23).

Muliaman said that until now people’s understanding of financial institutions is still low. Until 2013, the level of financial literacy only reached 59.7%. it showed that the Gini coefficient or the level of economic inequality last year still stood at 0.41%. therefore, OJK will focus on improving it. Increase of access to finance is believed to make the communities in the regions closer to financial products and services.

To support the dissemination of financial literacy optimally, Muliaman said that OJK continues to improve socialization and dissemination of information to all circles of society, so that people will know which financial products and services that suit them and are not deceived, so they are able to empower themselves.

Members of Board of commissioners of OJK for Education and Consumer Protection, Kusumangingtuti S. Soetiono, added that the material presented in the financial literacy book for junior high school education includes banking, insurance, finance, capital markets, pension funds, and pawnshops. “We ask for input from financial service business operators, thereby describing the financial services industry,” he said.

In the book, students are not only taught the theory, but are also encouraged to do observation and research by searching for information on the Internet. “This book provides the basic knowledge that refers to practice,” he added.

Meanwhile, Minister of Education and Culture, Anies Baswedan, said that increased financial literacy and access to finance should be enjoyed by all levels of Indonesian society. He hopes that it can help people’s understanding of economic development. To support that, he hopes that the government can complete telecommunication infrastructure facilities, so that all levels of society can access it. (E)

Business News - February 27, 2015