ASIATODAY.ID, JAKARTA – Indonesia’s Financial Services Authority (OJK) has expressed strong support for the financial health initiative championed by the United Nations Secretary-General’s Special Advocate for Financial Health (UNSGSA).
The initiative is a follow-up to Indonesia’s long-running financial inclusion programs developed jointly by OJK and the Government, and is expected to deliver direct benefits to household wellbeing across the country.
“This approach is highly relevant to Indonesia’s needs. We are ready to collaborate with the UNSGSA and—going forward—engage the many stakeholders who have long worked with us on financial literacy and inclusion, so that together we can advance financial health for all Indonesians,” said OJK Chairman Mahendra Siregar at the National Financial Health Event held in Jakarta on Thursday, November 27, 2025.
The event was attended by Queen Máxima of the Kingdom of the Netherlands in her capacity as UNSGSA, as well as OJK Chief Executive for Market Conduct Supervision, Financial Education, and Consumer Protection, Friderica Widyasari Dewi. Around 1,000 women from various community groups in Jakarta were also present.
Mahendra stressed that the financial health program aligns with Indonesia’s national development priorities, particularly those focused on responsible financial management, building resilience against economic shocks, and long-term planning for a more secure future.
Queen Máxima highlighted that financial inclusion—such as owning a bank account—is only a tool, not the end goal of financial wellbeing.
“Once people have access, we must help them use that access to improve their lives—managing daily finances, balancing income and expenses, budgeting, obtaining the right credit products, and preparing for education costs,” Queen Máxima emphasized.
She added that financial health also strengthens household resilience against shocks through the use of financial products such as insurance and emergency savings.
According to Queen Máxima, a financially healthy population contributes to long-term economic growth, strengthens the stability of the financial system, and serves as a social safety net that supports greater productivity nationwide.
“This is not just a macroeconomic issue—it is also relevant for banks and fintechs. We spoke to them yesterday. This is not CSR; it is a fundamental need. In the long run, they will benefit more when their customers are financially healthy,” she noted.
Queen Máxima outlined three core principles for advancing financial health:
1. A shift in mindset—financial literacy must go beyond product knowledge and aim at achieving genuine financial wellbeing, with products tailored to people’s needs.
2. Developing safe financial products—innovation must prioritize consumer protection and avoid harm.
3. Driving shared understanding—financial health is not a CSR activity but an essential component of long-term business models.
Government Support
During Queen Máxima’s working visit, she also attended a high-level meeting with several ministers and institutional leaders, including Coordinating Minister for Economic Affairs Airlangga Hartarto, OJK Chairman Mahendra Siregar, Bank Indonesia Senior Deputy Governor Destri Damayanti, LPS Chairman Anggito Abimanyu, OJK executive Friderica Widyasari Dewi, Ministry of Finance Director General for Financial Sector Stability and Development Masyita Crystallin, and Foreign Ministry Senior Adviser for Economic Diplomacy Zelda Wulan Kartika.
Airlangga underscored the urgency of improving household financial wellbeing due to its direct implications for financial stability and national development goals.
“When financial health declines, families cut consumption, exhaust their savings, and fall back into high-cost borrowing—making it harder to survive. This affects financial stability, workforce productivity, and our long-term development targets toward 2045. Strengthening financial health is therefore essential,” Airlangga stated.
Fraud & Scam Focus Group Discussion
Queen Máxima also joined a discussion on fraud and scams led by Friderica Widyasari Dewi, attended by representatives of the Satgas Pasti task force and the Indonesia Anti-Scam Center (IASC).
Friderica highlighted the role of IASC—established by OJK and Satgas Pasti members in November 2024—in combating the surge of fraud and financial crimes. In its first year of operation, IASC recorded nearly IDR 8 trillion in reported losses.
OJK and IASC are currently developing an integrated information system to combat fraud and scams, reinforce prevention measures, and strengthen cross-agency collaboration.
Queen Máxima’s activities in Indonesia concluded with a bilateral meeting with all OJK Board Members to discuss the next steps in implementing the country’s financial health agenda. (AT Network)
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