Have you ever heard of the term financial inclusion? The term financial inclusion has often been discussed in the world of finance. In fact, since 2016, OJK has initiated Financial Inclusion Month, which is commemorated every October every year.
For those of you who are unfamiliar with or have never heard of the term financial inclusion, you can read this article to better understand what financial inclusion is.
What is Financial Inclusion
According to POJK Number 76/POJK.07/2016, financial inclusion is the availability of access to various financial institutions, products, and services according to the needs and capabilities of the community in the context of community welfare.
Financial inclusion was formed to close the gap in access to financial services from unbanked people or people who do not have a bank account because they do not have access to basic banking services such as savings with people who already have accounts and gain access to other financial services such as insurance, financing, pension programs, and investments. That supports a better standard of living.
There are several reasons why this gap occurs, namely because of price barriers (cost limitations), information barriers (limited information), product design barriers (products that are suitable and in accordance with community needs), and channel barriers (appropriate facilities).
Financial inclusion is expected to be able to answer these challenges by providing the following benefits:
- Increase economic efficiency
- Support financial stability
- Reducing shadow banking or irresponsible finance.
- Supporting the improvement of Indonesia's human development index (HDI).
- Positive contribution to sustainable local and national economic growth
- Reducing inequality and the rigidity of the low-income trap so as to improve people's welfare and reduce poverty.
Financial Inclusion Goals
In the POJK, the objectives of financial inclusion include:
- Increased public access to PUJK financial institutions, products, and services.
- Increasing the provision of financial products and/or services by PUJK in accordance with the needs and capabilities of the community.
- Increasing the use of financial products and/or services in accordance with the needs and capabilities of the community.
- Increasing the quality of the use of financial products and services according to the needs and capabilities of the community.
Bank MAS Efforts to Succeed Financial Inclusion
To support the financial inclusion program, Bank MAS is currently also providing easy access to banking services by opening MAS Savings online through the MAS Mobile application from anywhere and anytime.
The MAS Mobile application also has a variety of interesting features to facilitate your transaction needs, such as transfers, topping up pulses, e-wallet top-ups, and paying various bills. You can check the complete information about MAS Mobile here.
For those of you who want to immediately use MAS Mobile, click the link below and enjoy the convenience of transactions anywhere and anytime.
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