Financial literacy lags behind inclusion in Central Java

The Financial Services Authority (OJK) of Central Java has reported a significant gap between financial inclusion and financial literacy rates in the region. While financial inclusion has reached 95 percent, the literacy rate stands at only 72.8 percent.

OJK Central Java Head Hidayat Prabowo stated that high access to financial products must be balanced with public understanding to protect citizens from risks such as fraud and illegal online loans. He emphasized the need for increased synergy and collaboration to improve public comprehension of the benefits, risks, and proper usage of financial services.