The 2019 National Survey on Financial Literacy and Inclusion (SNLIK) showed a financial literacy index of 38.03% and a financial inclusion index of 76.19%. Although still relatively low, these figures represented an increase from the 2016 SNLIK results of 29.7% and 67.8% respectively. This shows that Indonesian people, in general, do not properly understand the characteristics of the various financial products and services offered by formal financial services institutions. In fact, financial literacy is an important skill in the context of societal empowerment, individual welfare, consumer protection, and enhanced financial inclusion.
The Financial Services Authority (OJK) is strongly committed to encouraging the improvement of the national financial literacy and inclusion indices. In the second pillar of the Structural Framework for the 2021 – 2025 Master Plan for the Indonesian Financial Services Sector (MPSJKI), namely the Development of the Financial Services Ecosystem, there is a program called 'Expanding Financial Access and Improving Public Financial Literacy'. This second pillar duly served as a reference in formulating the strategic direction for increasing the financial literacy and inclusion indices, as outlined in the 2021 – 2025 National Strategy on Indonesian Financial Literacy (SNLKI).
The strategic direction in the 2021 – 2025 SNLKI was developed by considering the sustainability of several strategic programs in the 2013 SNLKI and Revisit 2017 SNLKI, the results of the 2019 National Survey on Financial Literacy and Inclusion, recommendations from various parties, the need to improve the quality of financial literacy activities, literature studies on concept development, evaluations of past and ongoing financial literacy activities, as well as the implementation of financial literacy programs in other countries.
The vision of the 2021 – 2025 SNLKI is "To create an Indonesian Society that has a High Financial Literacy Index (well literate) so that Appropriate Financial Products and Services Can Be Utilized to Achieve Sustainable Financial Well-Being". This vision is laid out in the following three missions. First, utilizing digital technology to improve the financial literacy index. Second, building and enhancing strategic alliances in the implementation of financial literacy and education programs. Third, expanding access to and availability of inclusive financial products and services.
