UNAIR NEWS – As part of efforts to address gaps in financial literacy and inclusion, Generasi Baru Indonesia (Genbi) UNAIR successfully conducted a visit to the Financial Services Authority (OJK) in East Java. The seminar, titled “Financial Literacy for the Young Generation,” was held at the OJK East Java office on Monday, November 25, 2024.
The event featured keynote speakers and was attended by all recipients of Bank Indonesia scholarships from the UNAIR chapter.
OJK’s Vital Role in ensuring national financial stability
Horas V.M. Tarihoran, a key speaker at the event, underscored the essential function of OJK as an independent body regulating Indonesia’s financial services sector. A central priority of OJK is mitigating systemic risks in the financial industry that could adversely affect the national economy.
“OJK’s regulatory and supervisory responsibilities encompass banking, capital markets, and non-bank financial institutions. To uphold financial stability, we work closely with Bank Indonesia, which handles macroprudential policies, and the Ministry of Finance, which oversees fiscal matters,” explained Tarihoran, Director of Business Conduct Supervision, Financial Consumer Education, and Protection at OJK East Java.
He also discussed OJK’s initiatives to combat illegal online loans (pinjol) and online gambling (judol) through the Investment Alert Task Force (SWI). “Through the Anti-Scam Center (ASC), we are committed to safeguarding the public against increasingly common financial fraud,” he added.
Insights on financial technology
The seminar included a discussion on technology-driven financial services, such as Paylater options. Horas urged participants to exercise caution when using these facilities. “Paylater is an innovation stemming from P2P lending. Before borrowing, evaluate your ability to repay. Regardless of where you borrow, repayment is always your responsibility,” he advised.
Participants also learned about credit score checks. Since January 1, 2018, OJK has replaced BI Checking with OJK SLIK, a system that broadens the scope of debtor information by including both banking and non-bank financial institutions.
OJK SLIK expands the scope of iDeb, covering banks, finance companies, and non-bank financial institutions. These entities are required to report debtor data to the Debtor Information System (SID).
Additionally, SLIK is used to report funding facilities, collateral data, and other related information from various financial institutions, credit information management agencies, and other stakeholders.
Empowering youth for financial savviness
The event highlighted Genbi UNAIR’s dedication to equipping students with the tools to manage their finances effectively. Financial literacy extends beyond understanding financial products; it involves developing analytical skills to assess risks and opportunities in the financial services sector.
Through such efforts, the younger generation can play an active role in building a more inclusive and stable economy. “Let’s work together to cultivate financially savvy youth, as the future of financial stability rests in your hands,” the speaker concluded.
Author: Sintya Alfafa
Editor: Khefti Al Mawalia
