Jakarta, InfoPublik - The third National Survey on Financial Literacy and Inclusion (SNLIK) conducted by the Financial Services Authority (OJK) this year showed that the financial literacy and inclusion indices reached 38.03% and 76.19% respectively. Those figures were higher compared to the results of the 2016 survey, where the financial literacy and inclusion indices stood at 29.7% and 67.8% respectively.
Thus, within the last 3 years, Indonesian people’s financial literacy has increased by 8.33%, and access to financial products and services (financial inclusion) has risen by 8.39%.
"This increase was resulted from a joint hard work between the Government, OJK, relevant Ministries/Institutions, Financial Services Industry, and various other parties, who have been putting in continuous efforts to improve financial literacy and inclusion in the community," member of OJK’s Board of Commissioners in charge for Consumer Education and Protection, Tirta Segara, in a press release received in Jakarta, Wednesday (11/13).
According to him, the government’s target for the financial inclusion index in 2019 has been achieved. The target was set through the Presidential Regulation Number 82 of 2016 on National Financial Inclusion Strategy (SNKI) at 75%.
The OJK survey 2019 involved 12,773 respondents from 34 provinces and 67 cities/regencies, taking into account their gender and urban rural strata. This year’s survey was carried out using the same method, parameters, and indicators as that of in 2016. In SNLIK 2019, the financial literacy index used the parameters of knowledge, skills, beliefs, attitudes and behaviors, while the financial inclusion index used the usage parameter.
Based on the urban rural strata, financial literacy index reached 41.41% in urban areas and financial inclusion of urban communities reached 83.60%. Meanwhile, literacy index and financial inclusion of rural communities were 34.53% and 68.49%.
The survey also showed that based on gender, the literacy index and financial inclusion of men were 39.94% and 77.24%, relatively higher than women at 36.13% and 75.15%.
OJK will continue its effort in developing a more effective and targeted national financial strategy by formulating a better strategy based on the results of the financial literacy survey 2019. (Reporter: Isma, Translator: Penni Patmawati Rusman)