Indonesia's Financial Literacy Remains Low as Dangers of Illegal Online Lending Loom

Jakarta — Governor of Bank Indonesia, Perry Warjiyo, has stressed the importance of improving financial literacy to avert a range of financial crime risks, such as illegal online lending. The rapid growth of financial inclusion has not kept pace with the level of financial literacy. According to the National Survey on Financial Literacy and Inclusion (SNLIK) 2025, financial inclusion in Indonesia reached 92.74%, while the public’s financial literacy stood at only 66.46%.

‘The national financial inclusion level is 92.74%, and we need to raise it towards a target of 98% by 2045, as outlined in the RPJMN 2025–2045. The issue is to increase financial inclusion while ensuring literacy also rises,’ Perry said during the keynote speech at the Aksi KLIK event (Strengthening Financial Literacy and Inclusion for Welfare) on Friday (6 March 2026).

Perry explained that financial literacy is essential so that citizens not only access financial products but also understand their benefits, risks, and protections. He argued that limited understanding of financial products makes people vulnerable to various financial crimes, including illegal online lending and digital fraud.

‘The problem is not only logging in using an account, or using QRIS and so on. But how literate people understand why literacy is needed so that they can access financial products. More importantly, they should also be protected from various crimes,’ he added.