TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
OJK pushes for integrated financial services
The Financial Services Authority (OJK) will push for the adoption of an integrated financial service that will give all people access to financial products
Change Size
T
he Financial Services Authority (OJK) will push for the adoption of an integrated financial service that will give all people access to financial products.
'The OJK will push for the integration of financial service products, from deposit, investment to insurance,' OJK non-banking supervision head Firdaus Djaelani said on Monday.
Firdaus said the integration would give everyone the chance to enjoy financial services and that the existing micro banking services would be used to reach out to lower-income people, Antara news agency reported.
'Middle- and low-income people make up the biggest portion of our population,' Firdaus said.
He said that micro financial services offered by lenders should not just aim at collecting funds from society through deposits but must also be used as a forum to educate people about insurance and investment.
'When lenders offer their products to people in rural areas, it must be seen as efforts to educate people on how to save money, to invest and to use insurance products. Afterward, the lenders will offer credit,' he added.
Firdaus also criticized the interest rate for micro businesses, which he considered too high for the small and micro enterprises. He said he hoped the interest rate could be lowered to help boost growth.
