The Jakarta Post
State-owned lender Bank Negara Indonesia (BNI) launched on Sunday TASA, a special savings account for disadvantaged children, as part of its larger efforts to widen the country's financial inclusion.
TASA will be used to funnel social assistance funds from the Social Affairs Ministry to street children, abandoned children, children with disabilities and other disadvantaged children, allowing them to access basic social services.
“As a participant in the government’s program, BNI will help to disburse social assistance funds through a cashless system,” BNI managing director of institutional relations & transactional banking Adi Sulistyowati said during the Aug. 20 launch at Taman Mini Indonesia Indah (TMII) cultural park.Read also: State lender BNI partners with BPJS Kesehatan
Earlier, the lender launched student savings accounts to promote financial literacy among young people.
In the long run, the move is expected to broaden BNI’s customer base and in turn, its third-party funds.
The Social Affairs Ministry’s director general of social rehabilitation, Marjuki, said that TASA would reach 23,800 children nationwide. He added that 419 children would be the first to receive an account.
“Today, we have disbursed our funds to 75 children of the Baduy Luar [Outer Baduy] tribe,” he said, referring the indigenous West Javan tribal community.
The social assistance funds will be distributed to children under 18 years old, with each child entitled to receiving Rp 1 million (US$75) annually. (lnd)