Indonesia's Financial Services Authority (OJK) announced an agreement with Queen Máxima, in her capacity as the United Nations Secretary-General’s Special Advocate for Financial Health, to develop a financial health programme in Indonesia as a follow-on to OJK’s financial literacy and inclusion work with the government. The programme is framed around improving household wellbeing by strengthening responsible financial management, protection against shocks, and future planning. Queen Máxima underscored that financial inclusion such as having a bank account is a tool rather than an end goal, and positioned financial health as helping people manage daily finances, budget, use appropriate credit, and build resilience through products such as insurance and emergency funds. Three priorities were highlighted for programme development: shifting financial literacy from product knowledge to measurable financial health and product fit; developing financial products that do not harm consumers alongside stronger consumer protection; and embedding financial health as a long-term business model objective for banks and fintech rather than treating it as corporate social responsibility. Alongside the financial health agenda, Queen Máxima participated in a fraud and scam discussion with OJK, Satgas Pasti members and the Indonesia Anti-Scam Center (IASC). OJK reported that in IASC’s first year of operations, reported losses reached almost IDR 8 trillion, and that OJK and IASC are developing an integrated information system to strengthen prevention and inter-agency coordination; the visit concluded with a bilateral meeting with OJK’s board to discuss follow-up implementation.

Original source View in tracker