Agent banks, QRIS expediting financial inclusion: Ministry

Deputy Minister II of State-Owned Enterprises Kartika Wirjoatmodjo at the SOE international conference, which was followed online on Monday (October 17, 2022).

Jakarta - Agent banks and Quick Response Code Indonesian Standard (QRIS) have helped accelerate national financial inclusion in recent years, according to Deputy Minister II of State-Owned Enterprises Kartika Wirjoatmodjo. 

He cited a survey conducted by the Financial Services Authority (OJK), which showed that Indonesia's financial inclusion index increased significantly from around 50 percent in 2015 to 83.4 percent in 2021. 

"I think these two services (agent banks and QRIS) are the key of the increase in financial inclusion, from 50 percent (in 2015) to 84 percent in 2021," Wirjoatmodjo said at the SOE international conference on “The Role of SOEs in Broadening Financial Access,” which was followed online from here on Monday. 

Furthermore, the two services initiated by the government have created an ecosystem in which there are many micro, small, and medium enterprises (MSMEs) actors involved, which has ultimately contributed to encouraging national economic growth. 

In addition, the two services have also made it easier for citizens living in the maritime or archipelagic country. 

"These two services (agent banks and QRIS) make it easier for people on every island to access banking remotely, without having to come to a branch office," Wirjoatmodjo pointed out. 

Speaking at the conference on Monday, he informed that the government is improving financial inclusion for ultra micro business actors. Of the 45 million ultra micro business actors in the country, 30 million do not have proper financial access. 

"They (ultra micro business actors) already have a bank account or financial payment. However, they do not have adequate access to finance," Wirjoatmodjo noted. 

Not only that, for increasing financial inclusion, financial literacy is being honed and consumer protection improved. 

"The community not only has easy access to finance but also has access to protection, this is very important," Wirjoatmodjo said. 

The financial inclusion index in Indonesia reached 83.6 percent in 2021, and several key indicators supported the achievement, including an increase in access to finance, acceleration of the use of formal financial services, and improvement in the quality of financial services. 

By: M Heriyanto, Mecca Yumna/Antara 

Editor: Yakop