Bank Indonesia Macroprudential Policy for Promoting Inclusive Financing

3.  Prepare a Good Financial Plan

Financial inclusion will also be able to provide an opportunity for everyone to be able to prepare their financial management in a mature manner where the central bank remains encourage a balanced and quality banking intermediation function in supporting national economic growth while maintaining financial system stability. This ease of access to financial services will make it easier for everyone to prepare their financial plans in the future so that it will benefit them in the future.

4.  Increasing the Country's Economic Growth

Financial inclusion can increase economic development in a country if the country's financial system will be stable so that the economy in it can improve. When the economy is expansive, people can also get a capital loan to start their business, so they will be able to absorb more a lot of labor which will reduce the number of unemployed in the community. the target of increasing economic growth & increasing people's welfare. When the unemployment rate in a country can be reduced, then the level of the economy in a country will also certainly become stronger.

5.  Growing Financial Literacy Awareness

Financial literacy & financial inclusion have a close relationship. Basically, financial literacy is the ability, skill, knowledge, and belief that can influence attitudes or behavior to be able to determine the right policies related to finance because financial literacy is closely related to the understanding of every community in managing their financial condition. Based on a survey conducted by the 2019 National Financial Literacy Survey (SNLIK), it shows that the financial inclusion index of the Indonesian people has touched 76,19% while the financial literacy index has touched 38,03%. This figure is considered to have increased when compared to the results of a previous survey conducted by OJK in 2016. At that time, the financial inclusion index of the Indonesian people touched 67,8%, while financial literacy only touched 29,7%. When many people have good financial literacy, they can take advantage of financial services and products according to their abilities and needs to avoid unwanted risks, such as fraud or getting into bank debt.

Each country has greater flexibility in formulating the design and implementation of its macroprudential policy instruments in order to encourage inclusive financing. The importance of understanding the problem & trying to implement the best solution from each running mechanism to achieve the objectives of the policy implemented. 

Bank Indonesia is expected to always carry out monitoring to monitor everything that can affect the performance of the financial system. The government also has an obligation to assist Bank Indonesia in educating & increasing awareness of various financial institutions about the existence of potential segments in society, as well as looking for other ways to increase the distribution of financial products and services as well as the exchange of information between market players, such as increasing cooperation between financial institutions in order to increase business scale. This allows everyone to have access to use financial products or services so that the financial inclusion index and financial literacy of the Indonesian people can continue to increase.