President Jokowi Tells Financial Institutions to Improve Consumer Protection

Coordinating Minister for Economic Affairs and Cabinet Secretary are engaged in a dialog before attending a Limited Cabinet Meeting on the National Financial Inclusion Strategy at Presidential Office, Jakarta, Tuesday (28/1). (Photo by: PR / Rahmat)

In a bid to maintain public’s trust in Indonesia’s formal financial system, financial services institutions should improve protection for consumers, President Joko “Jokowi” Widodo has said.

“The financial services institutions must continue to work hard to gain public trust since it is vital for its sustainability in banking industry,” President Jokowi said in his introductory remarks at a Limited Cabinet Meeting on the National Financial Inclusion Strategy at Presidential Office, Jakarta, Tuesday (28/1).

On that occasion, the President also stressed that the Government needs to deepen non-bank financial institutions roles which have potential to become the main engine for economic growth, such as life insurance, capital markets, pawnshops, and pension funds.

“Do seize the opportunities that can boost national economic resilience in order to secure domestic investment,” the President said. (FID/EN)

Translated by: Syarifah Aisyah
Reviewed by: M. Ersan Pamungkas