LPS to host 'Jogja Financial Festival' for the younger generation

Many people readily purchase items using ‘paylater’ services without understanding the consequences, and this often ends up being costly. Yogyakarta (ANTARA) - The Deposit Insurance Corporation (LPS) is organising the “Jogja Financial Festival 2026” on 22-23 May 2026 at the Jogja Expo Center (JEC) in Yogyakarta with a financial education concept packaged in an interactive format and close to the younger generation. ‘The festival, intended to increase financial literacy of the public, especially in Yogyakarta, is deliberately designed differently from typical financial seminars or ’workshops’ that tend to be formal and monotonous,’ said Deputy Chairman of the LPS Board of Commissioners Farid Azhar Nasution during a media gathering in Yogyakarta on Thursday. According to him, the festival is packaged with easily digestible, interactive education and features discussion sessions with figures from the Ministry of Finance, OJK, Bank Indonesia, as well as the banking industry. ‘Yogyakarta was chosen because it is known as a student city and a city of students with a large generation of young people. This condition provides an important momentum to strengthen financial literacy among Gen Z who are very close to digital information flows,’ he said. He added that around 20 million people of productive age in Indonesia still lack adequate financial literacy, making them vulnerable to illegal online lending (pinjol), Ponzi investments, and using financial services without understanding risks. ‘Many people readily purchase items using paylater services without understanding the consequences, and this often ends up being costly,’ he said. Farid said the festival would not only offer financial education but also entertainment so that the public would be more interested in following financial literacy material. ‘Various sectors of the financial industry will be involved, from banking, insurance, fintech, to digital assets and crypto. The public needs to understand not only opportunities but also risks from the development of digital financial products,’ he said. Executive Director of Secretariat and Institutional Relations of LPS Nuruddin said the festival concept was deliberately made non-monotonous so that educational material would be more easily received by the younger generation. ‘We want to present educational and literacy activities that are not boring; there will be interactive sessions and entertainment interludes,’ he said. He added that the development of access to financial products and services today is progressing very rapidly, but literacy skills have not fully kept pace. Therefore, the festival is expected to serve as an educational space so that the public, especially the younger generation, can be wiser in using digital financial services and understand investment risks. Jogja Financial Festival 2026 will run on 22-23 May 2026 at Jogja Expo Center (JEC), Yogyakarta, featuring discussions, educational classes, financial industry exhibitions, musical entertainment, and even a stand-up comedy session. Some figures are scheduled to attend the festival, including the Finance Minister, a representative from Bank Indonesia, the Financial Services Authority (OJK), LPS, and leaders of several national banks. The festival will also be enlivened by performances from musicians such as Ari Lasso, Happy Asmara, Juicy Luicy, Nisa Sabyan, and Denny Caknan. In addition, there will be a range of interactive activities such as financial consultations, education booths, and digital financial literacy. In addition, the programme also includes the ‘Jogja Run D City’ on 24 May 2026 with categories for a 5-kilometre and 10-kilometre run taking the iconic route around Universitas Gadjah Mada. Ticket proceeds from the running event will be donated to scholarships for students in Yogyakarta.