GRASS ROOTS NEED FINANCIAL INCLUSION

by Andi Abdussalam

Jakarta, May 24 (Antara) -  Indonesia is now developing a financial inclusiveness program to provide its population with wide access to financial resources as part of its efforts to facilitate  the people's economic activities at the grass root level.          Through this scheme, the government has set a target to cover 75 percent of the country's adult population with financial inclusiveness program by 2019.          Presidential Regulation No. 82 Year of 2016 on National Financial Inclusion strategy set a target that by 2019 about 75 percent of the population should have access to formal financial services.          Financial inclusion is defined as a condition when every citizen has access to various formal financial services on time; services that are smooth, safe, as well as affordable, and based on needs.          To achieve the financial inclusiveness target, the government has prepared five supporting pillars, namely financial education, people's property right, inter-mediation facility and financial distribution channel, financial service in the government sector and consumer protection.          A survey revealed that the formal financial inclusion level in a number of provinces in eastern Indonesia is relatively high.