President Jokowi Launches ‘Ayo Menabung’ Campaign

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation
Date 31 Oktober 2016
Category: News
Read: 5.447 Views

 

President Jokowi, accompanied by OJK Head and Governor of Bank Indonesia, enters the room where the commemoration of the World Savings Day is held at the JCC, Jakarta, Monday (31/10). (Photo by: Public Relations Division/Jay)

President Jokowi, accompanied by OJK Head and Governor of Bank Indonesia, enters the room where the commemoration of the World Savings Day is held at the JCC, Jakarta, Monday (31/10). (Photo by: Public Relations Division/Jay)

Many Indonesians still keep their money under the pillow or under the bed, and even some still save more than Rp1 trillion through those ways, President Joko ‘Jokowi’ Widodo said.

“This is something that we have to change. We have to persuade people to start saving their money in banks,” the President said during the ‘Ayo Menabung’ (Let’s Save) campaign as part of the commemoration of the World Savings Day held at the Jakarta Convention Center (JCC) on Monday (31/10).

The ratio of savings to Indonesia’s Gross Domestic Product (GDP) is currently still very low, which is around 20 percent. Ideally, the President said, it should be 32%. The ownership percentage of bank accounts in Indonesia is still only 19% of the total Indonesian population who are above 15 years old, the President said.

However, President Jokowi believes that the ratio of savings to Indonesia’s GDP and the ownership of bank accounts can still be developed, considering the big potentials of savings among students, in which there are around 44 million students, while the potentials of savings among university students and youths are around 55 million people. “Certainly, it can become the target of collecting funds that still has quite big potentials,” the President said.

By initiating the habit of saving money since early age, such as through student saving program, President Jokowi believes that it will develop productive habits, including the habit of always planning for the future. Everything has to be planned and it can start by having savings, President Jokowi said.

“All students must have the habit of saving money, although it’s only Rp1,000 or Rp5,000. Start saving. You can use your saving for pursuing your study to a higher level,” the President said, adding that students and university students can also save their money in the forms of investment fund, stocks, gold, and the like.

On that occasion, President Jokowi also called on all president directors of banks to review banking administrative fees. “I still receive complaints about banking administrative fees. Sometimes, when a costumer has a small amount of money in their saving and they cannot increase it, unbeknown to them, their savings were deducted by banking administrative fees. Please pay special attention to administrative fees for savings,” the President said.

Also attending the event were Head of the Financial Services Authority (OJK) Muliaman M. Hadad, Governor of central bank Bank Indonesia (BI) Agus Martowardojo, Minister of Finance Sri Mulyani Indrawati, and Cabinet Secretary Pramono Anung. (DND/ES) (EP/YM/Naster)

Latest News