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View all search resultsIndonesians have access to a wide range of fintech services without the sufficient financial literacy to take advantage of them or to protect themselves from the risks – and this could disrupt financial sector development in the country.
Given Indonesia’s young population, the government and financial authorities are turning to students and youngsters to boost the country’s painfully low financial literacy rate. It is estimated that less than a third of the country’s population own bank accounts.
President Joko "Jokowi" Widodo has expressed his concern over the lack of infrastructure in the country leading to a low financial literacy level of just 21.8 percent. This means, in effect, that around 80 percent of Indonesians are financially illiterate.
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