OJK Says IKAD Dashboard Could Be a Powerful Tool

Jakarta (ANTARA) — Financial Services Authority (OJK) Board of Commissioners Chair Friderica Widyasari Dewi said the Regional Financial Access Index (IKAD) dashboard could be a powerful tool for assessing financial inclusion across regions.

“The IKAD index enriches an inclusion index that looks at just one side — users — by adding availability of access and depth,” Friderica said in Jakarta on Monday.

The dashboard, launched by the National Development Planning Agency (Bappenas), is a powerful tool, she said. Alongside the IKAD index, the dashboard allows stakeholders to monitor progress together and evaluate financial inclusion in each region.

“This is very important. Why? Because we must not simply have the figures and then do nothing. Let alone taking action or evaluating them — we do not even look at them,” she said.

Friderica added that a dashboard accessible to ministries and agencies, including the OJK, would be a powerful tool for assessing financial inclusion in the regions.

She explained that the financial inclusion index is based on surveys and analysis of respondents, with a result of 93 per cent — meaning roughly 93 out of every 100 people have used financial products. The IKAD index, by contrast, supplements this measure by covering the availability of and access to financial services, as well as their depth. It therefore adds those dimensions to an inclusion index that otherwise focuses only on users.

“We can see very good collaboration here in providing data, and, of course, this will enable us to assess what is still lacking and what policies we need to promote,” she said.

She cited the Home Affairs Ministry’s Regional Financial Access Acceleration Teams (TPAKD), which she said have been highly effective in driving programmes to improve financial literacy and inclusion in the regions.

Other examples include efforts by the OJK’s West Java regional office to bring cattle and egg farmers into the food supply ecosystem of the Free Nutritious Meals (MBG) programme. This is one way to lower prices and generate benefits across the ecosystem, she said.

There are many successful TPAKD initiatives, she added, and more regions should be encouraged to implement beneficial programmes.

“I am confident this is something remarkable and a very tangible demonstration of everyone’s commitment to working together to improve financial literacy and inclusion in the regions,” she said.