1) Bank Indonesia plays an important role in promoting financial inclusion in Indonesia in order to support its monetary, payment system, and macroprudential functions. Financial inclusion helps reduce liquidity and credit risks for banks.
2) Bank Indonesia's strategies for promoting financial inclusion include educating the public to use electronic money accounts rather than cash and reducing consumptive tendencies. Digital Financial Services (DFS) expand access to financial services through non-branch channels like mobile phones and agents.
3) Electronic money in Indonesia comes in registered and unregistered forms, with registered e-money allowing maximum balances of Rp 5 million and enabling transfers and cash withdrawals. DFS and electronic money can be used through Islamic boarding schools
The document discusses measures taken by the Reserve Bank of India (RBI) to promote financial inclusion in India. It notes that while some progress has been made, 40% of Indians still lack access to banking services due to factors like poverty, illiteracy and lack of infrastructure. Some key measures discussed include no-frills bank accounts without minimum balances, simplified KYC norms, use of business correspondents and intermediaries in rural areas, financial literacy programs, easier credit options, and the use of technology and electronic transfers to expand access. The RBI has also directed banks to submit financial inclusion plans and open more branches in unbanked rural areas. While more efforts are needed, banks also need to exercise caution to prevent
This document provides an overview of mobile money services in India. It defines mobile money and describes its key characteristics, including using agents outside bank branches to deposit and withdraw funds and initiating transactions via mobile phones. Globally, there are 411 million mobile money accounts across 93 countries. The document outlines reasons for mobile money's potential success in India, including high mobile penetration, financial inclusion needs, and government initiatives. It lists some prominent Indian mobile wallet providers and payments banks. Finally, it discusses factors important for mobile money to succeed in India, such as digital and financial inclusion, awareness/education, regulatory reforms, and customer confidence.
Mobile banking has great potential to promote financial inclusion in Africa. By reducing geographic and cost barriers, mobile banking allows commercial banks to expand into new areas at low cost. Kenya and South Africa have been leaders in mobile banking, with services like M-Pesa in Kenya growing exponentially and bringing millions of unbanked individuals into the formal financial system. Partnerships between mobile operators, banks, and microfinance institutions can further expand access to affordable financial services across Africa through mobile phones.
Mobile payment has grown rapidly in West Africa in recent years, enabled by increasing mobile phone adoption. However, several challenges remain:
1. Territorial coverage of mobile networks and agent networks remains inadequate, especially in rural areas.
2. Agent networks provide an important mode of distribution but remain limited in scale and sustainability.
3. Lack of interoperability between mobile operators limits the scope of mobile payment services.
4. The cost of implementing innovative solutions like online bill payment and government services is prohibitive for many West African governments.
5. Regulation of mobile financial services remains imprecise, which could limit further growth and innovation in the sector. Overcoming these challenges will be important to realize
The document discusses financial inclusion in India and the Reserve Bank of India's efforts toward achieving it. It provides an overview of the objectives of financial inclusion, which include increasing savings, investment, and economic growth by bringing the unbanked masses into the formal banking system. It notes that while progress has been made, access to financial services remains limited. The Reserve Bank of India has adopted a structured approach focused on both supply-side and demand-side constraints, using banks as the main vehicles for inclusion but allowing partnerships with non-banks. More efforts are still needed to achieve universal financial inclusion across India.
The document provides a summary of five panel discussions held across India on the topic of financial inclusion. The panels saw debates on how to make financial inclusion viable in rural areas with large populations lacking access to financial products. Key challenges identified were gaining the trust of rural populations and helping them access financial services. Successful models were seen to be those that made services accessible at affordable costs, such as through optimized use of Banking Correspondents. All stakeholders recognize the potential of serving consumers at the "bottom of the pyramid" but approaches need to focus on contribution-based systems rather than dole-based ones. Technology can also help power financial inclusion by facilitating efficient and secure transactions.
1. Financial inclusion aims to provide banking services to low-income groups so that more people can access banking, while Digital India aims to provide government services electronically.
2. Digital India can help achieve financial inclusion goals by easily connecting different groups through digital banking and payment systems.
3. Initiatives under Digital India like internet connectivity, e-services, IT training, and digital lockers make the path to financial inclusion easier by allowing electronic access for all citizens.
This document discusses cashless transactions in India. It begins by defining a cashless economy as one where transactions are made through electronic means like debit cards, credit cards, e-wallets, and direct bank transfers, rather than cash. The document then outlines various methods of cashless transactions available in India, including digital wallets, UPI apps, debit/credit cards, online bank transfers, and Aadhaar-enabled payments. It also discusses the objectives, benefits and limitations of promoting a cashless economy in India, such as increased transparency, reduced corruption, and challenges like digital illiteracy and lack of infrastructure in rural areas.
The document discusses measures taken by the Reserve Bank of India (RBI) to promote financial inclusion in India. It notes that while some progress has been made, 40% of Indians still lack access to banking services due to factors like poverty, illiteracy and lack of infrastructure. Some key measures discussed include no-frills bank accounts without minimum balances, simplified KYC norms, use of business correspondents and intermediaries in rural areas, financial literacy programs, easier credit options, and the use of technology and electronic transfers to expand access. The RBI has also directed banks to submit financial inclusion plans and open more branches in unbanked rural areas. While more efforts are needed, banks also need to exercise caution to prevent
This document provides an overview of mobile money services in India. It defines mobile money and describes its key characteristics, including using agents outside bank branches to deposit and withdraw funds and initiating transactions via mobile phones. Globally, there are 411 million mobile money accounts across 93 countries. The document outlines reasons for mobile money's potential success in India, including high mobile penetration, financial inclusion needs, and government initiatives. It lists some prominent Indian mobile wallet providers and payments banks. Finally, it discusses factors important for mobile money to succeed in India, such as digital and financial inclusion, awareness/education, regulatory reforms, and customer confidence.
Mobile banking has great potential to promote financial inclusion in Africa. By reducing geographic and cost barriers, mobile banking allows commercial banks to expand into new areas at low cost. Kenya and South Africa have been leaders in mobile banking, with services like M-Pesa in Kenya growing exponentially and bringing millions of unbanked individuals into the formal financial system. Partnerships between mobile operators, banks, and microfinance institutions can further expand access to affordable financial services across Africa through mobile phones.
Mobile payment has grown rapidly in West Africa in recent years, enabled by increasing mobile phone adoption. However, several challenges remain:
1. Territorial coverage of mobile networks and agent networks remains inadequate, especially in rural areas.
2. Agent networks provide an important mode of distribution but remain limited in scale and sustainability.
3. Lack of interoperability between mobile operators limits the scope of mobile payment services.
4. The cost of implementing innovative solutions like online bill payment and government services is prohibitive for many West African governments.
5. Regulation of mobile financial services remains imprecise, which could limit further growth and innovation in the sector. Overcoming these challenges will be important to realize
The document discusses financial inclusion in India and the Reserve Bank of India's efforts toward achieving it. It provides an overview of the objectives of financial inclusion, which include increasing savings, investment, and economic growth by bringing the unbanked masses into the formal banking system. It notes that while progress has been made, access to financial services remains limited. The Reserve Bank of India has adopted a structured approach focused on both supply-side and demand-side constraints, using banks as the main vehicles for inclusion but allowing partnerships with non-banks. More efforts are still needed to achieve universal financial inclusion across India.
The document provides a summary of five panel discussions held across India on the topic of financial inclusion. The panels saw debates on how to make financial inclusion viable in rural areas with large populations lacking access to financial products. Key challenges identified were gaining the trust of rural populations and helping them access financial services. Successful models were seen to be those that made services accessible at affordable costs, such as through optimized use of Banking Correspondents. All stakeholders recognize the potential of serving consumers at the "bottom of the pyramid" but approaches need to focus on contribution-based systems rather than dole-based ones. Technology can also help power financial inclusion by facilitating efficient and secure transactions.
1. Financial inclusion aims to provide banking services to low-income groups so that more people can access banking, while Digital India aims to provide government services electronically.
2. Digital India can help achieve financial inclusion goals by easily connecting different groups through digital banking and payment systems.
3. Initiatives under Digital India like internet connectivity, e-services, IT training, and digital lockers make the path to financial inclusion easier by allowing electronic access for all citizens.
This document discusses cashless transactions in India. It begins by defining a cashless economy as one where transactions are made through electronic means like debit cards, credit cards, e-wallets, and direct bank transfers, rather than cash. The document then outlines various methods of cashless transactions available in India, including digital wallets, UPI apps, debit/credit cards, online bank transfers, and Aadhaar-enabled payments. It also discusses the objectives, benefits and limitations of promoting a cashless economy in India, such as increased transparency, reduced corruption, and challenges like digital illiteracy and lack of infrastructure in rural areas.
1. The document discusses financial inclusion, which aims to provide affordable financial services to disadvantaged and low-income groups. It has become an objective for many central banks in developing nations.
2. Financial inclusion efforts in Bangladesh aim to provide basic financial services to 80% of the adult population through regulated microfinance institutions and cooperatives. The remaining 20% is being targeted through innovative partnerships.
3. The main goals of financial inclusion according to the UN are access to financial services like savings and credit at reasonable cost for all households and enterprises, sustainable institutions guided by standards and regulation, and multiple providers to offer alternatives.
This document discusses digital financial inclusion in India through the Pradhan Mantri Jan Dhan Yojana (PMJDY) program. It provides statistics on the number of bank accounts opened and deposits under PMJDY as of December 4, 2019, broken down by public sector banks, regional rural banks, and private sector banks. Over 376 million accounts have been opened with over Rs. 1079 billion in deposits. Public sector banks have opened the most accounts and hold the most deposits. The document also provides data on the number of Rupay debit cards issued to PMJDY account holders by bank type.
Banking on Fintech: Financial inclusion for micro enterprises in IndonesiaUN Global Pulse
The Banking on Fintech: Financial Inclusion for Micro Enterprises
in Indonesia research was conducted by Pulse Lab Jakarta,
with the support of the Department of Foreign Affairs and Trade
(DFAT) Australia and the Indonesia Fintech Association (AFTECH). It presents successful practices from early adopters and attempts to translate them into opportunities for other unbanked populations.
"https://www.antfin.com/index.htm?locale=en_US
E-commerce is rapidly becoming an important alternative marketing channel for smallholders' production in rural areas. The innovative Ant Financial programme is designed to address working capital and short-term investment needs in agribusiness carrried out by the relatively poor rural population."
Remittances as a Catalyst for Financial Inclusion 19 Apr 2016- FINAL2Juanita Woodward
Juanita Woodward presented on how remittances can act as a catalyst for financial inclusion for migrant workers. She outlines three key opportunities: 1) Linking financial products like savings, credit, and insurance to remittances can increase access to services for migrant workers and their families. 2) Financial literacy training is important so migrant workers understand how to manage money. 3) Microinsurance products are growing and can help migrant workers mitigate financial risks. Remittances present an opportunity to improve financial inclusion if the right products and education are developed with migrant workers and their transnational families in mind.
IS THE WORLD READY FOR CASHLESS CURRENCYMadhavGupta75
A cashless economy is one in which the majority of monetary transactions occur electronically through debit cards, credit cards, net banking, etc. And the physical cash circulation is minimum. The cashless economy has benefits of prevention of money laundering, deter shadow economy, increase the tax base and compliance and convenience for customers.
The document discusses three activities related to financial services:
1. Where individuals keep their money, including alternatives to banks and FDIC insurance.
2. Evaluating formal and informal financial services, comparing costs of alternatives to bank accounts.
3. Traditional and expanded banking services, including the impact of the Financial Services Modernization Act and banks' community involvement.
Financial inclusion aims to ensure access to financial services for vulnerable groups at affordable costs. In India, the Reserve Bank of India first promoted financial inclusion in 2005 by urging banks to review exclusionary practices. Since then, the government and RBI have undertaken various initiatives to expand access to banking in rural areas through measures like no-frills accounts, relaxed KYC norms, engaging business correspondents, adopting electronic benefit transfers, and expanding branch networks. The goal is to promote savings, provide formal credit channels, and more efficiently deliver subsidies and welfare programs.
This document discusses how financial technology (fintech) can help promote greater financial inclusion. It finds that while mobile money has increased access to financial services, especially in East Africa, fintech has even greater potential to drive digital financial transformation and inclusion. The best approach is a strategic four pillar framework that establishes: 1) digital identification and eKYC, 2) digital payment infrastructure, 3) government digitization and payments, and 4) design of digital financial markets. Together these pillars can provide a foundation for broader access to finance by supporting access, payments, savings and more sophisticated financial functions through an enabling policy environment.
Rani Singh-Financial Inclusion Issues and ChallengesRani Singh
This document discusses the challenges and issues around financial inclusion in India. It provides statistics that show progress expanding access to banking services, but notes that full inclusion has not been achieved. Key issues discussed include the need to cover all households, not just villages; ensuring technology platforms are robust; improving financial literacy; and overcoming operational challenges in rural areas. The Prime Minister's Jan Dhan Yojana aims to provide universal banking access to all households by 2015 through basic bank accounts with debit cards and insurance, but achieving widespread usage remains a challenge.
Study on-mobile-payments-deloitte reportShridhar Rao
India remains predominantly a cash-based economy, with over 65% of retail transactions conducted using cash. While non-cash payment methods like credit cards, debit cards, and mobile payments have grown, they currently account for a small portion of the market. The widespread distribution of retail outlets across urban and rural India, along with typically low-value transactions, make traditional card-based systems less viable compared to other countries. To truly enable non-cash payments at scale, India requires an innovative mobile-based solution tailored to its unique market characteristics and consumer needs.
Presentation on Is India ready to go Cashless?Rekha Rani
This presentation is all about giving an idea about the cashless economy. This is mostly popular after demonetization. This ppt gives an information about the pros and cons of the cashless economy.
Indian model of financial inclusion: Will Mobile Payments lead the future?TechvibesKnowledgeCenter
The document discusses India's model of financial inclusion and examines whether mobile payments can lead future efforts. It summarizes India's bank-led model which focused on expanding access to banking services in rural areas through agents called Business Correspondents. While this model was effective in expanding access, many accounts remain unused. The document argues that leveraging India's growing mobile infrastructure through technologies like mobile payments could help address limitations and drive financial inclusion going forward. Key challenges to adopting mobile payments include expanding rural connectivity and increasing customer familiarity with digital financial services.
This document outlines the key points about moving towards a cashless economy in India. It defines a cashless economy, lists methods of cashless transactions like mobile banking and debit/credit cards, and discusses the advantages like reducing black money and ease of transactions and disadvantages like security risks and surcharges. It then analyzes reasons why India is not fully ready to go cashless, like cybersecurity issues and lack of infrastructure. The document also covers government initiatives to promote cashless transactions through programs like RuPay, PMJDY, and Aadhaar and believes these can help India transition towards a digital economy by 2020.
This document discusses the need for financial inclusion in India and the challenges involved. It notes that currently 41% of the adult population in India is unbanked, with even higher percentages in rural areas. Marginalized groups like small farmers, laborers, and women have little access to formal financial services. The purpose of financial inclusion is to provide affordable banking services to low-income and disadvantaged groups. However, achieving widespread financial inclusion faces challenges such as lack of awareness, high costs, documentation requirements, and behavioral barriers. The Reserve Bank of India has taken steps like promoting no-frills bank accounts but more efforts are needed to overcome issues like agent risk, dormant accounts, financial illiteracy, and ensuring long-term
The document provides demographic information about survey respondents in Indonesia, finding that over half of Indonesian adults are employed but a majority live below the $2.50/day poverty line, with farming a common occupation especially in rural areas. Many Indonesians supplement their income through secondary jobs or family support. Unemployed individuals primarily rely on support from spouses or other family members.
The document discusses India's transition to a cashless economy and the opportunities and challenges that come with it. Key points include:
- India has implemented several digital payment innovations like UPI, BHIM, and RuPay cards to boost financial inclusion and curb black money.
- Digital payments in India are growing rapidly, with UPI and mobile banking seeing spectacular growth in recent years.
- This transition presents opportunities for value-added services and jobs growth but also challenges around digital literacy, connectivity issues, and security of financial data.
- The shift to digital payments is expected to significantly impact India by formalizing the economy, improving tax collection, and allowing more efficient delivery of government services.
11.management of commercial banks in ethiopia from the perspective of financi...Alexander Decker
1. Financial inclusion is the process of ensuring access to appropriate financial products and services needed by vulnerable groups such as low-income groups at an affordable cost in a fair and transparent manner by mainstream banks.
2. In Ethiopia, expanding bank branch networks, especially in rural areas, engaging business correspondents, and using ICT can help increase financial inclusion. National Bank of Ethiopia should encourage banks to open more branches and engage business correspondents to reach remote villages.
3. Financial inclusion benefits individuals by providing secure savings options, convenient access to credit and remittances, and can stimulate Ethiopia's economic development when each citizen can access financial services.
Management of commercial banks in ethiopia from the perspective of financial ...Alexander Decker
1. Financial inclusion is the process of ensuring access to appropriate financial products and services for vulnerable groups like low-income individuals at an affordable cost. It has become a policy priority in many countries to promote inclusive growth.
2. The document discusses the need for financial inclusion in Ethiopia, as most rural households do not have access to financial institutions or services. Initiatives are needed to improve living standards through new economic activities supported by banks and other organizations.
3. Benefits of financial inclusion include establishing bank account relationships, facilitating efficient allocation of resources, enabling remittances at low cost, and improving daily financial management. Several countries have implemented legislative and voluntary measures to promote access to banking.
Financial inclusion cbt presentation feb 2011subramanian K
The document discusses financial inclusion challenges and opportunities in India, focusing on the role of government, industry, and academia in promoting financial inclusion. It defines financial inclusion and exclusion, outlines reasons for exclusion. It proposes a public-private partnership model utilizing technology to expand access to banking and credit for rural and low-income populations.
Marketing involves creating value for customers through communication and relationships. It is about delivering the right content to audiences, not just advertising. As the number of internet and social media users grows, marketers must shift from mass marketing to targeted strategies using platforms like social networks, blogs, microblogs, video and photo sharing to engage audiences. Libraries can increase their visibility and promote programs by creating profiles on these platforms to connect with communities without requiring real-time interactions. Building networks and partnerships allows equal access and helps libraries remain visible in their role of serving communities.
1. The document discusses financial inclusion, which aims to provide affordable financial services to disadvantaged and low-income groups. It has become an objective for many central banks in developing nations.
2. Financial inclusion efforts in Bangladesh aim to provide basic financial services to 80% of the adult population through regulated microfinance institutions and cooperatives. The remaining 20% is being targeted through innovative partnerships.
3. The main goals of financial inclusion according to the UN are access to financial services like savings and credit at reasonable cost for all households and enterprises, sustainable institutions guided by standards and regulation, and multiple providers to offer alternatives.
This document discusses digital financial inclusion in India through the Pradhan Mantri Jan Dhan Yojana (PMJDY) program. It provides statistics on the number of bank accounts opened and deposits under PMJDY as of December 4, 2019, broken down by public sector banks, regional rural banks, and private sector banks. Over 376 million accounts have been opened with over Rs. 1079 billion in deposits. Public sector banks have opened the most accounts and hold the most deposits. The document also provides data on the number of Rupay debit cards issued to PMJDY account holders by bank type.
Banking on Fintech: Financial inclusion for micro enterprises in IndonesiaUN Global Pulse
The Banking on Fintech: Financial Inclusion for Micro Enterprises
in Indonesia research was conducted by Pulse Lab Jakarta,
with the support of the Department of Foreign Affairs and Trade
(DFAT) Australia and the Indonesia Fintech Association (AFTECH). It presents successful practices from early adopters and attempts to translate them into opportunities for other unbanked populations.
"https://www.antfin.com/index.htm?locale=en_US
E-commerce is rapidly becoming an important alternative marketing channel for smallholders' production in rural areas. The innovative Ant Financial programme is designed to address working capital and short-term investment needs in agribusiness carrried out by the relatively poor rural population."
Remittances as a Catalyst for Financial Inclusion 19 Apr 2016- FINAL2Juanita Woodward
Juanita Woodward presented on how remittances can act as a catalyst for financial inclusion for migrant workers. She outlines three key opportunities: 1) Linking financial products like savings, credit, and insurance to remittances can increase access to services for migrant workers and their families. 2) Financial literacy training is important so migrant workers understand how to manage money. 3) Microinsurance products are growing and can help migrant workers mitigate financial risks. Remittances present an opportunity to improve financial inclusion if the right products and education are developed with migrant workers and their transnational families in mind.
IS THE WORLD READY FOR CASHLESS CURRENCYMadhavGupta75
A cashless economy is one in which the majority of monetary transactions occur electronically through debit cards, credit cards, net banking, etc. And the physical cash circulation is minimum. The cashless economy has benefits of prevention of money laundering, deter shadow economy, increase the tax base and compliance and convenience for customers.
The document discusses three activities related to financial services:
1. Where individuals keep their money, including alternatives to banks and FDIC insurance.
2. Evaluating formal and informal financial services, comparing costs of alternatives to bank accounts.
3. Traditional and expanded banking services, including the impact of the Financial Services Modernization Act and banks' community involvement.
Financial inclusion aims to ensure access to financial services for vulnerable groups at affordable costs. In India, the Reserve Bank of India first promoted financial inclusion in 2005 by urging banks to review exclusionary practices. Since then, the government and RBI have undertaken various initiatives to expand access to banking in rural areas through measures like no-frills accounts, relaxed KYC norms, engaging business correspondents, adopting electronic benefit transfers, and expanding branch networks. The goal is to promote savings, provide formal credit channels, and more efficiently deliver subsidies and welfare programs.
This document discusses how financial technology (fintech) can help promote greater financial inclusion. It finds that while mobile money has increased access to financial services, especially in East Africa, fintech has even greater potential to drive digital financial transformation and inclusion. The best approach is a strategic four pillar framework that establishes: 1) digital identification and eKYC, 2) digital payment infrastructure, 3) government digitization and payments, and 4) design of digital financial markets. Together these pillars can provide a foundation for broader access to finance by supporting access, payments, savings and more sophisticated financial functions through an enabling policy environment.
Rani Singh-Financial Inclusion Issues and ChallengesRani Singh
This document discusses the challenges and issues around financial inclusion in India. It provides statistics that show progress expanding access to banking services, but notes that full inclusion has not been achieved. Key issues discussed include the need to cover all households, not just villages; ensuring technology platforms are robust; improving financial literacy; and overcoming operational challenges in rural areas. The Prime Minister's Jan Dhan Yojana aims to provide universal banking access to all households by 2015 through basic bank accounts with debit cards and insurance, but achieving widespread usage remains a challenge.
Study on-mobile-payments-deloitte reportShridhar Rao
India remains predominantly a cash-based economy, with over 65% of retail transactions conducted using cash. While non-cash payment methods like credit cards, debit cards, and mobile payments have grown, they currently account for a small portion of the market. The widespread distribution of retail outlets across urban and rural India, along with typically low-value transactions, make traditional card-based systems less viable compared to other countries. To truly enable non-cash payments at scale, India requires an innovative mobile-based solution tailored to its unique market characteristics and consumer needs.
Presentation on Is India ready to go Cashless?Rekha Rani
This presentation is all about giving an idea about the cashless economy. This is mostly popular after demonetization. This ppt gives an information about the pros and cons of the cashless economy.
Indian model of financial inclusion: Will Mobile Payments lead the future?TechvibesKnowledgeCenter
The document discusses India's model of financial inclusion and examines whether mobile payments can lead future efforts. It summarizes India's bank-led model which focused on expanding access to banking services in rural areas through agents called Business Correspondents. While this model was effective in expanding access, many accounts remain unused. The document argues that leveraging India's growing mobile infrastructure through technologies like mobile payments could help address limitations and drive financial inclusion going forward. Key challenges to adopting mobile payments include expanding rural connectivity and increasing customer familiarity with digital financial services.
This document outlines the key points about moving towards a cashless economy in India. It defines a cashless economy, lists methods of cashless transactions like mobile banking and debit/credit cards, and discusses the advantages like reducing black money and ease of transactions and disadvantages like security risks and surcharges. It then analyzes reasons why India is not fully ready to go cashless, like cybersecurity issues and lack of infrastructure. The document also covers government initiatives to promote cashless transactions through programs like RuPay, PMJDY, and Aadhaar and believes these can help India transition towards a digital economy by 2020.
This document discusses the need for financial inclusion in India and the challenges involved. It notes that currently 41% of the adult population in India is unbanked, with even higher percentages in rural areas. Marginalized groups like small farmers, laborers, and women have little access to formal financial services. The purpose of financial inclusion is to provide affordable banking services to low-income and disadvantaged groups. However, achieving widespread financial inclusion faces challenges such as lack of awareness, high costs, documentation requirements, and behavioral barriers. The Reserve Bank of India has taken steps like promoting no-frills bank accounts but more efforts are needed to overcome issues like agent risk, dormant accounts, financial illiteracy, and ensuring long-term
The document provides demographic information about survey respondents in Indonesia, finding that over half of Indonesian adults are employed but a majority live below the $2.50/day poverty line, with farming a common occupation especially in rural areas. Many Indonesians supplement their income through secondary jobs or family support. Unemployed individuals primarily rely on support from spouses or other family members.
The document discusses India's transition to a cashless economy and the opportunities and challenges that come with it. Key points include:
- India has implemented several digital payment innovations like UPI, BHIM, and RuPay cards to boost financial inclusion and curb black money.
- Digital payments in India are growing rapidly, with UPI and mobile banking seeing spectacular growth in recent years.
- This transition presents opportunities for value-added services and jobs growth but also challenges around digital literacy, connectivity issues, and security of financial data.
- The shift to digital payments is expected to significantly impact India by formalizing the economy, improving tax collection, and allowing more efficient delivery of government services.
11.management of commercial banks in ethiopia from the perspective of financi...Alexander Decker
1. Financial inclusion is the process of ensuring access to appropriate financial products and services needed by vulnerable groups such as low-income groups at an affordable cost in a fair and transparent manner by mainstream banks.
2. In Ethiopia, expanding bank branch networks, especially in rural areas, engaging business correspondents, and using ICT can help increase financial inclusion. National Bank of Ethiopia should encourage banks to open more branches and engage business correspondents to reach remote villages.
3. Financial inclusion benefits individuals by providing secure savings options, convenient access to credit and remittances, and can stimulate Ethiopia's economic development when each citizen can access financial services.
Management of commercial banks in ethiopia from the perspective of financial ...Alexander Decker
1. Financial inclusion is the process of ensuring access to appropriate financial products and services for vulnerable groups like low-income individuals at an affordable cost. It has become a policy priority in many countries to promote inclusive growth.
2. The document discusses the need for financial inclusion in Ethiopia, as most rural households do not have access to financial institutions or services. Initiatives are needed to improve living standards through new economic activities supported by banks and other organizations.
3. Benefits of financial inclusion include establishing bank account relationships, facilitating efficient allocation of resources, enabling remittances at low cost, and improving daily financial management. Several countries have implemented legislative and voluntary measures to promote access to banking.
Financial inclusion cbt presentation feb 2011subramanian K
The document discusses financial inclusion challenges and opportunities in India, focusing on the role of government, industry, and academia in promoting financial inclusion. It defines financial inclusion and exclusion, outlines reasons for exclusion. It proposes a public-private partnership model utilizing technology to expand access to banking and credit for rural and low-income populations.
Marketing involves creating value for customers through communication and relationships. It is about delivering the right content to audiences, not just advertising. As the number of internet and social media users grows, marketers must shift from mass marketing to targeted strategies using platforms like social networks, blogs, microblogs, video and photo sharing to engage audiences. Libraries can increase their visibility and promote programs by creating profiles on these platforms to connect with communities without requiring real-time interactions. Building networks and partnerships allows equal access and helps libraries remain visible in their role of serving communities.
The resolution supports a proactive response to racism on campus. It describes racist flyers depicting Asian Americans that were posted around campus and the response, including a bias incident report filed and a forum hosted to change viewpoints. It encourages proactive responses to racism and discriminatory actions towards all groups. It also states that the views in the flyers do not align with student government's standards and they will strive to create an inclusive campus.
The document describes how the cryptotip.it service allows users to tip others in cryptocurrency. Users must first deposit coins into their dashboard, then they can tip others directly by email or generate a link to share. When tipping by link, the recipient can easily claim the tip. The service aims to introduce friends to cryptocurrency and encourages users to spread the word.
This document summarizes a case report of a 32-year old woman who developed Cauda Equina Syndrome (CES) after experiencing low back pain. She underwent spinal surgery but continued experiencing symptoms like weakness, numbness, and bladder/bowel incontinence. She was treated with Ayurvedic medications, panchakarma procedures, and yoga for 3 months. Her symptoms improved, including reduced pain and numbness and improved bladder/bowel control and motor function. The treatment addressed the underlying vata imbalance and marmabhighata (injury to nerves) based on Ayurvedic principles. The case report concludes Ayurvedic treatment improved her quality of life and symptoms, demonstrating potential benefits for managing
El documento habla sobre diferentes tipos de construcciones gramaticales, incluyendo la voz pasiva, complemento agente, enunciados con sujeto paciente e impersonales, así como dativos de interés y construcciones medias y reflejas.
The document summarizes Indonesia's geothermal development plans and policies. It discusses (1) Indonesia's goal of reaching 9,500 MW of geothermal capacity by 2025 to meet growing energy needs, (2) the country's laws and regulations governing geothermal development, and (3) Indonesia's plans to offer new areas for geothermal exploration and development through pre-survey assignments and tenders to accelerate development.
Viva La (Online) Resistance! Activism Versus Slacktivism_samram
Slides from a 5 minutes presentation done by Samantha Ramsay for Queen's University's course Film 436.
Presentation highlights some major online campaigns in the past and then goes on to explore the three stages of online activism. Then we explore the idea of "slacktivism and whether this makes online activism a positive or a negative.
This document discusses the common causes and clinical presentation of low back pain in different age groups. It outlines various pathologies that can cause low back pain such as degenerative spondylosis, spondylolisthesis, trauma, infection, and metastases. The document differentiates between disc prolapse and spinal stenosis. It identifies red flag features that suggest a serious underlying condition and yellow flag psychosocial factors associated with chronic pain. Clinical assessment of low back pain includes history of present illness, review of systems, physical examination, and consideration of psychosocial factors.
Cyber Crime - How New Age Criminals Function Parag Deodhar
More than 8,000 Indian websites were hacked in the first three months of 2016 according to the Indian Minister of Communications and IT. Total cyber crimes in India have been increasing each year, with over 14,000 incidents occurring until March 2016. Cyber criminals can include script kiddies, state-sponsored actors, organized crime rings, hackers, insiders, and hacktivists. Notable cyber attacks in 2015 included the $1 billion Carbanak banking malware case and multi-million dollar cyber heists by groups like Dridex and Dyre.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help boost feelings of calmness, happiness and focus.
Fintech has grown rapidly in Indonesia in 2019. The fintech ecosystem encompasses various financial services enabled by technology, especially lending and payments. Over 100 fintech lending companies are licensed by OJK, while payment and remittance are regulated by Bank Indonesia. Major players like OVO have become unicorns, while others are valued over $100 million. Fintech addresses the large unbanked population and is expected to partner with traditional banks and businesses to further financial inclusion through innovative products and services. Both OJK and Bank Indonesia regulate the expanding fintech industry.
This document discusses digital financial inclusion in India through the Pradhan Mantri Jan Dhan Yojana (PMJDY) program. It provides statistics on the number of bank accounts opened and deposits under PMJDY as of December 4, 2019, broken down by public sector banks, regional rural banks, and private sector banks. Over 376 million accounts have been opened with over Rs. 10,790 crore in deposits. Public sector banks have opened over 299 million accounts with Rs. 8,524 crore in deposits. Regional rural banks have opened over 64 million accounts with Rs. 1,958 crore in deposits. The document also provides data on the number of Rupay debit cards issued under PMJDY to
This document discusses competitive strategies for digital financial services through branchless banking at PT Bank Mandiri. It provides context on financial inclusion in Indonesia and defines branchless banking and digital financial services. It also reviews literature on competitive strategies and banking financial performance metrics like loan to funding ratio, capital adequacy ratio, return on assets, and cost to income ratio. Previous research on branchless banking is also summarized.
In the country that has financial inclusion rate higher than its literacy, it must be set the standar of GPFI to overcome. Principal from GPFI G20 about financial inclusion is best practice to implemement, but situation from each conutry and who will lead to transform to foster financial inclusion with digital strategy to be a cashless society. This presentation is cover from Indonesian case
Financial inclusion in Indonesia held steady at around 24% between 2014 and 2015. Bank accounts continue to be the primary means of financial access, with 23% of adults having registered bank accounts. Mobile money awareness and use saw slight increases between 2014 and 2015, though mobile money accounts still only represent 0.3% of the population. The majority of financially included adults have digital access to their accounts, with 23% able to access accounts via mobile phones, ATMs, debit/credit cards or the internet.
The document discusses financial inclusion in India. It defines financial inclusion as the delivery of affordable financial services to disadvantaged and low-income groups. The government and Reserve Bank of India have implemented several initiatives to promote financial inclusion, such as "no-frills" bank accounts, banking services through business correspondents, and electronic benefit transfers. However, full financial inclusion has not been achieved, as an estimated 560 million Indians still lack access to formal financial services. Innovative products, regulation, technology, and public-private partnerships are needed to make further progress on financial inclusion in India.
Financial inclusion by Joycee Wilson Dolare Joycee Pari
The document discusses financial inclusion in India. It defines financial inclusion as the delivery of affordable financial services to disadvantaged and low-income groups. The government and Reserve Bank of India have implemented several initiatives to promote financial inclusion, such as "no-frills" bank accounts, banking services through business correspondents, and electronic benefit transfers. However, full financial inclusion has not been achieved, as an estimated 560 million Indians still lack access to formal financial services. Innovative products, regulation, technology, and public-private partnerships are needed to make further progress on financial inclusion in India.
Fintech is gaining popularity recently, a great number of Fintech startups are emerging nowadays. Fintech has huge potential in Indonesia as it provides solutions which are not offered by conventional banking institutions. New model of payment and investment option become more familiar through online financial service. Fintech in Indonesia does not spared from government regulation, to make sure financial products that startup's offered are not harmful toward society, OJK as the policy holder will soon pass a law to regulate the growing fintech startup in Indonesia. All information about fintech startup, available sectors, and forecast growth will be available in this report.
The State of Financial Inclusion – An Overview and AdvancementIJLT EMAS
Financial Inclusion is delivery of banking services at an affordable cost to the vast sections of disadvantaged and low income groups. The main focus of financial inclusion in India is to promote sustainable development and generating employment in rural areas for the rural population. In India, few households have access to banking services. There are many factors affecting access to financial services by weaker section of society in India. Several steps have been taken by the Reserve Bank of India and the Government to bring the financially excluded people to the fold of the formal banking services. Financial Access Survey for 2016 released by International Monetary Fund (IMF) shows that in India there only 13 commercial bank branches per 1,00,000 individuals. PM Jan Dhan Yojna (PMJDY) was highly successful in opening bank accounts in which more than 97% of the accounts were opened with the public banks, but around 72% of these accounts show 'zero balances'. More than 1 crore bank accounts have been opened under PMJDY. However, despite the opening of such accounts, access has been lower. Access to banking is an important indicator of the level of financial inclusion in the country. India's urban and semi-urban region performs fairly well, however rural region is still underdeveloped in banking. Digital India campaign recently launched schemes like MUDRA, startup India, PMJDY, initiation of new banks like payment banks, PSL certificates trading etc. are in the right direction. With government moving towards DBT for subsidies financial inclusion becomes very critical. Focus should shift to increase coverage, reach of services and ease of availing credit.
State of Indonesia's Financial Access and Payments 2015Frank Mercado
The document analyzes the state of financial access and payments in Indonesia, finding significant disparities in access to ATMs and bank branches between regions as well as high levels of unbanked households and MSMEs, with limited access inhibiting poverty alleviation and economic growth. It discusses strategies by Bank Indonesia to promote financial inclusion through electronic money and digital financial services to expand access in underserved areas.
Financial Inclusion: Are Nigerian Banks Getting it Right?CSR-in-Action
The term ‘financial inclusion’ has gained momentum in the Nigerian banking industry since the inception of the Nigerian Sustainable Banking Principles (NSBP) by the Central Bank of Nigeria (CBN) in the year 2012. But are Nigerian banks really in the true path of financial inclusion or inclusive banking?
This document summarizes a speech given by the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development at a meeting of Egyptian microfinance leaders in Cairo. The speech discusses the importance of financial inclusion and an inclusive financial system that provides a wide range of affordable services to individuals and small businesses. It emphasizes that microfinance is just one part of financial inclusion and highlights some key needs like savings products, SME financing, financial infrastructure like payments systems, credit bureaus, and regulations to protect consumers. The speech advocates for continued progress in Egypt toward the goal of universal financial access.
Digital money revolution in India
- India has seen a shift from traditional banking channels to electronic channels like ATMs, debit/credit cards, internet banking and mobile banking. However, digital banking adoption remains much lower in India compared to developed countries.
- The Reserve Bank of India has outlined a vision to encourage electronic payments and a less cash society in India. It has launched various initiatives over the years like ECS in 1990s to facilitate bulk/repetitive payments and fund transfers.
- Demonetization in 2016 aimed to move India towards a cashless economy. However, going fully digital faces challenges due to low internet penetration and digital literacy in India. Infrastructure like availability of smartphones, broadband connectivity, and number of
Case study: DBS's digitalization in Southeast AsiaSahil Gupta
DBS Bank launched a digital banking platform called digibank in Singapore in 2016 that has since expanded to India and Indonesia. The platform focuses on integrating banking services into customers' lifestyles and daily needs. DBS worked with EY to develop its strategy for entering Indonesia, a growing and tech-savvy market that is increasingly competitive. Their approach focuses on addressing key customer pain points and differentiating digibank through personalized and seamless digital services. The goal is to move beyond traditional transactional banking and offer an integrated digital experience centered around customers' lives.
Case study: DBS's digitalization in Southeast AsiaVarun Mittal
DBS Bank launched a digital banking platform called digibank in Singapore in 2016 that has since expanded to India and Indonesia. The platform focuses on integrating banking services into customers' lifestyles and daily needs. DBS worked with EY to develop its strategy in Indonesia, focusing on differentiating digibank by addressing key pain points and integrating banking seamlessly into customers' digital lives. DBS aims to offer banking services beyond transactions and become embedded in customers' experiences through integrated digital ecosystems.
The document is prepared for a project of edX online learning of WBG. It is a report of present and future opportunities of financial inclusion through digital money especially digital money.
Pradhan mantri jan dhan yojna pmjdy a new direction for mainstreaming the fin...IAEME Publication
The document discusses the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme launched in India in 2014 to promote financial inclusion. It aims to provide universal access to banking facilities, basic savings accounts, need-based credit, remittances, insurance and pension. The key objectives are achieving universal access to banking, providing RuPay debit cards and overdraft facilities to households, financial literacy programs, and credit guarantee and micro-insurance schemes. While progress has been made, challenges remain in reaching remote unbanked areas and developing simple, user-friendly services and products for low-income groups. The study examines the level of financial access and awareness of the scheme among urban informal workers in Odisha,
this is a kind of research paper on financial inclusion and e-banking services awareness among the customer of State Bank of India with special reference to customer of Agra...
the sample size of study is small because of limited time periiod...
This document discusses various financial education initiatives for entrepreneurs and small- and medium-sized enterprises (SMEs) from different countries. It describes programs run by central banks, government agencies, and non-profits to provide training, resources, and support to help entrepreneurs start and grow their businesses. The initiatives focus on financial literacy topics like business planning, record keeping, accessing financing, and management skills. They utilize approaches such as in-person training sessions, online resources, mentorship programs, and partnerships with local organizations. The overall goal is to promote financial inclusion and entrepreneurship through financial education.
Similar to State of Indonesian Payments part 1 (20)
COMPILATION SMEs - 2015 Symposium to Advance Financial Literacy - Paris - 7 May
State of Indonesian Payments part 1
1. HOW TO ENCOURAGE
E-MONEY IN INDONESIA
- part 2
BE LOCALLY RELEVANT.
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3. Financial inclusion is found
to be highly relevant to
support effective functions
and tasks of Bank Indonesia
in terms of monetary
aspect, payment system,
and macroprudence.
4. In terms of financial
system stability,
financial inclusion helps
reduce pressures from
liquidity risk and credit
risk in banking sector.
6. From credit aspect, new
retail markets open,
primarily micro and
small credits, endorsing
diversification of
portfolios and credit
risks.
7. Financial inclusion programs
further help increase
community’s capability with
the resulting financial
responsibilities after
implementation of financial
education and consumer
protection programs.
8. From monetary policy aspect,
with financial inclusion, policy
rate can touch the community at
all levels in any places because
policy rate is transmitted through
banks, thereby supporting to
realize effective monetary
policies and the community will
not be affected by the second
round effect of the policies.
9. Meanwhile, from payment
system aspect, smoother
payment system to the whole
areas leads to the common
use by wider community
wherever they are. In
addition, less cash society
program may be implemented
with added value for the
community and economy.
10. ENTER
INDONESIAN PAYMENTS
WITH
CONFIDENCE
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12. Educating people at the
bottom of the pyramid to
learn to keep their money
from cash-based in the
house to account-based in
electronic money accounts.
How to encourage
use of e-money
13. It may help reduce
consumptive tendency and
serve as the initial point of
financial diary, managing
simple finance supported by
financial education programs.
How to reduce
consumptive tendency
14. Through BI roles in financial
inclusion, it is expected that
the capability and life quality
of people at the bottom of
the pyramid will improve.
The impact of
financial education
15. high printing cost of
approximately Rp 3 trillion/
year, small money in hand,
much time to count the
change, and difficulty in
keeping much cash
The cost of cash for
Indonesia
16. Bank Indonesia and the relevant institutions
(the Coordinating Ministry of Economic
Affairs, Ministry of Finance, DKI Jakarta
Province Government, and the Association of
Indonesian Province Governments) as well as
industry actors in payment system under the
Association of Payment System in Indonesia
(ASPI) have launched Non-Cash National
Movement (GNNT) on 14 August 2014.
Who are leading the
Indonesia’s Non-Cash
Movement?
17. The GNNT initiative aims to encourage
and expand the use of non- cash
transactions to increase economic
efficiency, security, and convenience in
transactions, strengthen transparency
and accountability, and support efforts to
prevent corruption, money laundering,
and terrorism funding.
What is the Non-Cash
National Movement
(GNNT)?
18. Efforts to realize expanded
use of non-cash transactions
are made not only for retail
transactions, but also for
high value transactions to
facilitate financial revenue
and expense transactions of
corporations and the
government.
19. 1. service expansion through telco network
2. synergy of banks and non-banks, e-
commerce services
3. public and government services in 34
ministries
4. regional government services, and
5. the services of state owned enterprises
(SOE) and regional owned enterprises (ROE)
What are the 6 Priority
Programs in the National Non
Cash Initiatives?
20. GNNT aims to increase
public awareness of the
use of non-cash
instruments to gradually
establish less cash
society (LCS), particularly
in making transactions in
their economic activities.
21. As a form of our commitment
to the expanded use of non-
cash instruments, we will
make GNNT as an annual
movement with various
activities to increase public
understanding on the use of
non-cash instruments in
making payment transactions.
22. the huge potential of
transportation sector in
Jakarta of Rp 23.4
trillion/year (US$ 1.76bn)
Potential of e-
payments in Indonesia
23. HOW CAN
OMNICHANNELS
INCREASE YOUR
PAYMENTS
REVENUE?
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Dr Moekti Soejachmoen,
Economist and Head of Mandiri
Institute, Bank Mandiri chairs this
session.
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GROW THE REAL
BUSINESS, NOT JUST
THE BUZZ
Implement expansion that you
will be proud of by meeting
people who have already scaled
payments and achieved wide
adoption, like Dr Moekti
Soejachmoen, Head of Mandiri
Institute, Bank Mandiri, who will
be chairing the panel on Omni-
Channels to Support Digital
Banking and Discuss How You
Can Widen Adoption with
practical insights.
In just 17 years, Bank Mandiri has
earned 16 million banking
customers, with US$ 2bn in
profits. Through important
partnerships, it is set to grow to
tap the 50 million Indonesians
who will enter the middle class
before 2020.
Don’t you want this valuable
inside information?
25. Electric trains as the veins of
transportation in Jakarta can carry
400 thousand passengers per day
with an annual turnover of
Rp 1.4 trillion.
That’s a lot of
passengers!
26. The biggest potential is fuel expense in
gas stations, which, with an assumed
consumption of 1-4 liter per vehicle per
day, will reach Rp 14.6 trillion per year.
28. E-ticketing of Jakarta commuter
trains has been interconnected to
4 electronic money of 4 banks.
29. To increase the local revenue of
Jakarta, e-payment has been
implemented for redistribution by
street vendors and e-parking.
30. If you wish to ride on
TransJakarta buses, you
must also use electronic
money.
31. GNNT is also a part
of services
program for
Indonesian migrant
workers by the
Ministry of
Manpower and
BNP2TKI through
payment of
placement and
protection services
for Indonesian
migrant workers
and financial
education program
for Indonesian
migrant workers
and their families.
32. It is also encouraged that
remittance in relation to
Indonesian migrant workers
is made through electronic
money. It aims to help
reduce the relatively high
remittance cost borne by
Indonesian migrant workers.
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35. Various cooperation and
facilitation by Bank
Indonesia have been
consistently made to
encourage cash services. In
the following year, BI has
recorded synergy with 11
Ministries and 34 province
governments.
36. BI records 5 forms of BI facilities
related to non-cash services, namely:
1. mapping of available non-cash
services forms,
2. preparation of business model and
business process,
3. facilitation of non-cash services
availability with industries, and
4. implementation of non-cash
services and education
38. Paper-based includes
checks, giro biljet, and debit
notes.
Meanwhile, electronic-
based among others
includes ATM/debit cards,
electronic money, credit
cards, and mobile money.
39. Various cooperation and facilitation by Bank
Indonesia have been consistently made to
encourage cash services. In the following year, BI
has recorded synergy with 11 Ministries and 34
province governments.
BI records 5 forms of BI facilities related to non-
cash services, namely:
mapping of available non-cash services forms,
preparation of business model and business
process,
facilitation of non-cash services availability with
industries, and
implementation of non-cash services and
education.
41. 1. initial deposit
2. saved in a particular medium (either cards or
communication devices)
3. the main function as a means of payment, and
4. non-deposit making it ineligible for deposit insurance
and interest
Electronic money saved in cards is usually issued by
banks, while non-cards are usually issued by telco
companies.
What are 4 characteristics
of electronic money?
42. Therefore, electronic money can be used
for shopping and purchases.
However, there is something better than
traditional money: electronic money can
be used to pay bills, transfer between
individuals, or withdraw cash. It is similar to
a bank account.
Is electronic money
money?
43. 1. Unregistered which does not
require user data registration, and
2. Registered which requires the
electronic money holder's identity
data to be recorded with an issuer
What are 2 types of
electronic money?
44. 1. Maximum balance is Rp
5 million,
2. transfer is permitted,
and
3. cash withdrawal is
possible
What are the 3 advantages of
registered electronic money in
Indonesia?
45. Expansion of financial inclusion:
Synergy of Electronic Money and
Digital Financial Services (DFS)
47. As an embodiment of Bank Indonesia’s financial inclusion
initiative, DFS is an innovation to bring financial access
closer to the community in remote areas.
Through DFS, payment system and financial services no
longer depend on the existence of branch offices of
banks.
Such service is provided by providers in cooperation
with third parties by using mobile and web-based
technology devices and facilities.
No more dependence
on physical branches
48. Third parties in such services expansion are called
DFS in the form of legal entities or individuals.
DFS individual agents are companies with no legal
personality and individuals.
DFS agents function to provide facilities of
electronic money registration, top up, payment,
cash withdrawal, and distribution of government’s
aid to the community.
The product used in DFS is
server-based electronic money
transacted online.
49. 1. no need to come to branch offices of banks,
2. save money and time,
3. has a medium to temporarily save money in a safe
manner,
4. learn to save and be recognized by banks, and
5. serve as the first step to recognize other financial
services.
Therefore, the overall transformation process of public
culture and paradigm in financial transactions is in line
with the road map of financial inclusion and
electronification designed by Bank Indonesia.
What are the benefits of
DFS for the community?
50. 1. facilitating registration,
2. top up,
3. cash withdrawal,
4. payment of bills, and
5. distribution of government’s
aids.
What are the 5
functions of DFS?
54. Bank Indonesia has also observed Islamic boarding
schools as the target of financial inclusion
development through DFS.
In relation to this, Bank Indonesia and the Ministry of
Religious Affairs have signed a Memorandum of
Understanding on Development of Economic
Independence of Islamic Boarding Schools and
Improvement of Non-Cash Services for Financial
Transactions in the Ministry of Religious Affairs in
Surabaya.
Such memorandum signing is one of the series of
events of Sharia Economic Festival (ISEF) held from
3 to 9 November 2014 in Surabaya.
55. This Memorandum of Understanding is first
implemented in East Java because there are
approximately 6,000 Islamic boarding
schools there and it is in line with the
government’s plan to make Surabaya the
Center of National Sharia Economic
Development.
The initial movement in East Java is expected
to inspire other areas to accelerate financial
inclusion in the community.
56. The cooperation between Bank Indonesia and the
Ministry of Religious Affairs is triggered by the
huge number of muslim population in Indonesia.
Accordingly, the existence of educational
institutions becomes more widespread, and the
number of Islamic boarding school students also
increases.
With the huge potential, financial education
provided to such students will encourage
economic independence, resulting in financial
inclusion in the wider community.
57. Islamic boarding schools will act as DFS
agents interacting with banks.
The users in such DFS are the students
and the surrounding community. Islamic
boarding schools as DFS will provide
financial products and services to users.
What is the business model of the
Islamic boarding school-based
DFS?
58. Bank Indonesia is now establishing BMT Sidogiri in
Pasuruan, East Java. BMT Sidogiri’s assets in financial
year 2013 reached Rp 1 trillion and it is presently the
biggest cooperative in East Java.
59. BMT Sidogiri Cooperative acts as a DFS
agent interacting with the electronic
money issuer.
As a DFS agent, BMT Sidogiri can provide
services to pay tuition fees, deposit and
withdraw cash, and remit and receive
money.
The students and the community can also
shop in Basmallah convenience store
owned by BMT Sidogiri by using
electronic money.
60. ENTER
INDONESIAN PAYMENTS
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61. Source: Public Lecture
on the Central Bank -
Bank Indonesia’s
Policies on Financial
Inclusion through Non-
Cash National
Movement