Financial Inclusion and Literature Index in Indonesia rises

02 Nov 2022

The Financial Services Authority (OJK) announced the results of the 2022 National Financial Literacy and Inclusion Survey (SNLIK) showing an increase in the public financial literacy and inclusion index. 

 

The results of the 2022 SNLIK show that the financial literacy index of the Indonesian people is 49.68 percent and financial inclusion is 85.10 percent. This is an increase compared to the results of the 2019 SNLIK when the financial literacy index was 38.03 percent and financial inclusion was 76.19 percent.  

 

This was conveyed by Member of the OJK Board of Commissioners for Consumer Protection Education Friderica Widyasari Dewi during the closing of the Financial Inclusion Month (BIK) 2022 at the Financial Expo (FinExpo) in Jakarta, Saturday, October 29, 2022. 

 

According to Mrs. Dewi, SNLIK aims to map the financial literacy and inclusion index of the Indonesian people, including digital financial literacy. 

 

The SNLIK 2022 data collection process was carried out from July to September 2022 in 34 provinces covering 76 cities/districts and 14,634 respondents aged between 15 and 79 years. The method was done via face-to-face interviews and was assisted by a Computer-Assisted Personal Interviewing (CAPI) system. 

 

The results of the SNLIK are expected to be the basis for OJK and all stakeholders in making policies, formulating strategies, and designing financial products or services that are in line with the needs of consumers and can improve public protection. 

 

On that occasion, Mrs. Dewi also explained about OJK's efforts to further increase financial inclusion among the public, including through the Financial Inclusion Month (BIK) which was held this October. 

 

BIK 2022, under the theme "Financial Inclusion Increases, Economy Gets Stronger", saw several activities being held such as the provision of credit or financing for micro and small business actors through business matching activities; the selling of financial products and services with incentives (discounts, cashback, points, bonuses or rewards); the exhibition of financial services such as financial accounts, insurance policies, securities, and others; as well as campaigns and the issuance of publications on financial literacy, inclusion programs, and consumer protection. 

 

BIK has a goal to increase public understanding and use of financial products and/or services to encourage the achievement of the financial inclusion target of 90 percent by 2024 and to support the implementation of the national economic recovery program. 

 

As a series of BIK activities, FinExpo 2022 was held with the theme "Go Inclusive, Go Productive". The activity, which is a collaboration between the Financial Services Authority (OJK), Bank Indonesia (BI), and the Deposit Insurance Corporation (LPS) and Financial Services Institutions, was held at Central Park Mall, Jakarta, for five days from October 26 to October 30, 2022. 

 

Chairman of the OJK Board of Commissioners Mahendra Siregar accompanied by Chief Executive of IKNB Supervision Ogi Prastomiyono, Member of the OJK Board of Commissioners for Consumer Education and Protection Friderica Widyasari Dewi, LPS Executive Director Rudi Rahman and leaders of various financial institutions attended the peak event of FinExpo 2022, which was held on October 29, 2022. 

 

Through this activity, it is hoped that the public can increase their understanding of financial products and/or services through various financial literacy and inclusion programs.