36% of Indonesian Adults Have Bank Accounts

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02/12/2016 13:36 WIB

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Adult Bank Account Ownership Ratio in Southeast Asian Countries 2014

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Adult Bank Account Ownership Ratio in Southeast Asian Countries 2014

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Financial inclusion in Indonesia remains low. According to the 2014 Financial Inclusion Index (Global Findex) survey, only 36 percent of Indonesian adults owned a bank account. This figure lags behind other Southeast Asian countries and is significantly below the global average of 62 percent.

Although this represents an increase from approximately 19.6 percent in 2011, it still falls far short of President Joko Widodo's target of 50 percent financial inclusion. In his seventh Nawacita (national program), Jokowi aims to achieve economic independence by driving domestic strategic economic sectors. Therefore, introducing financial literacy and encouraging the use of financial services from a school age is crucial to achieving this goal.

The Global Findex survey was released by the World Bank in April 2014, following the first survey published in 2011. This World Bank initiative provides in-depth data on how individuals save, borrow, make payments, and manage risk, based on interviews with approximately 150,000 adults in over 140 countries.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."