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Financial inclusion needs breakthrough in products, services: Survey
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National Development Planning Agency (Bappenas) chief Bambang Brodjonegoro delivers a speech during the announcement of the results of the Survey on Financial Inclusion and Access (SOFIA) in Jakarta on Monday. (JP/Grace D. Amianti)
T
he government has to seek a breakthrough in financial products and services to promote effective financial inclusion, according to a new survey.
The government needs to review the effectiveness of financial products and services such as the subsidized loan program dubbed TabunganKu, the Survey on Financial Inclusion and Access (SOFIA) Indonesia suggested on Monday.
“It is recommended that the government and the financial services industry undertake a review of the usefulness of these services to different consumers and how these products help promote financial inclusion,” the survey says.
In his remarks, Bappenas chief Bambang Brodjonegoro said the SOFIA survey would help provide comprehensive information on Indonesians’ financial perception, attitude and behavior to create more improved approaches to financial inclusion.
Carried out for the first time in Indonesia, the SOFIA survey was held in 2016 by the National Development Planning Agency (Bappenas) in partnership with the governments of Australia and Switzerland.
The surveyors interviewed 20,000 respondents in Indonesia’s eastern provinces, namely East Java, West Nusa Tenggara, East Nusa Tenggara and South Sulawesi.
The government has set an ambitious target in which at least 75 percent of the population should have access to formal financial services by 2019. (bbn)
