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RI 'in early stage' of financial inclusion
Indonesia is still in an early stage in terms of financial inclusion development, since many people still have no access to basic financial services, according to a survey
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I
ndonesia is still in an early stage in terms of financial inclusion development, since many people still have no access to basic financial services, according to a survey.
'At a time when Japan and Singapore develop very fast, Indonesia and countries like Bangladesh and India are still in the early stage of financial inclusion development,' MasterCard Asia Pacific Group Executive Global Product & Solutions T.V. Seshadri said as quoted by Antara in a statement on Tuesday.
According to Seshadri, in a diverse region like Asia innovation, partnership and education about finance are important issues that will fill the gap between access and use of financial products as well as realize the benefits of financial inclusion.
MasterCard revealed the development of financial inclusion in 30 developed and developing countries, including eight in the Asia-Pacific region: Bangladesh, China, India, Indonesia, Japan, Malaysia, the Philippines and Singapore.
The study found that half of the adult population in those countries have no access to basic finance, which should be used to prepare for emergency funds, savings or to get insurance.
