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View all search resultsGovt earmarks Rp 11 trillion to open 200 million new personal bank accounts
Making good on an initiative the President first unveiled last March, the government has earmarked Rp 11 trillion to open 200 million individual bank accounts with an initial deposit of Rp 50,000 each to improve financial inclusion across the country.
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President Prabowo Subianto chairs a limited cabinet meeting to discuss economic issues on Sept. 7, 2026, at the Presidential Palace Complex in Central Jakarta. (BPMI Setpres/-)
T
he government plans to allocate Rp 11 trillion (US$620 million) for its nationwide bank account creation program, in line with President Prabowo Subianto’s direction to boost financial inclusion and literacy.
Coordinating Economy Minister Airlangga Hartarto said on Wednesday that the allocation would come from the state budget for distribution as an initial deposit of Rp 50,000 into the new bank accounts of 200 million people, state news agency Antara reported.
Airlangga added that the final scheme for funding and opening the bank accounts would be discussed with Bank Indonesia (BI) and the Financial Services Authority (OJK).
The government has yet to decide whether to draw the funds from the 2026 or 2027 state budget, though it plans to roll out the program before the end of this year.
The new initiative follows a presidential directive issued on Monday during a limited cabinet meeting.
“The discussion with the President dealt with bank account ownership among Indonesian families or citizens,” Airlangga said in a statement on Sept. 7.
He also highlighted the relatively high level of financial inclusion and literacy in the country.
