Financial inclusion in Indonesia

We are assisting Indonesia to promote their new National Strategy for Financial Inclusion, which was launched by President Widodo in November 2016. To complement the supply side initiatives, a consumer communication strategy is needed so consumers understand the new options available, see the potential benefits and are motivated to take action. The project involves the National Strategy secretariat, World Bank and Women's World Banking.

 President Widodo

President Widodo

Building financial literacy in Indonesia

Robert is currently working on several projects with the World Bank and the Financial Services Authority (OJK)  to foster financial literacy in Indonesia.

The Indonesian National Financial Literacy Strategy has a target to increase financial literacy by 2% every year. While 2% might sound a small number, for Indonesia that means 3.5 million people every year!

Indonesia has an innovative law where all financial service providers are required by law to be involved in financial education programs. Robert has reviewed the existing programs and made recommendations about how the regulator can help make the industry programs more effective and accountable.

Other countries might want to have a similar law: this would be good for both financial consumers and national development.