The results of the National Survey of Financial Literacy and Inclusion (SNLIK) in 2024 produced very significant progress. In this survey period, for the first time the Financial Services Authority (OJK) collaborated with the Central Statistics Agency (BPS) to be able to provide a higher quality and accurate survey process in describing the current condition of financial literacy and inclusion of the Indonesian people. The components measured against financial products and services include knowledge, skills, beliefs, attitudes and behavior of the community.
This year's Islamic financial literacy index reached 39%. This is the highest growth, considering that the literacy index for the 2019-2022 period stagnated at 9%. On the other hand, Indonesia is still experiencing stagnation in the Islamic financial inclusion index which is still at 12%. This must be a common concern, because it affects the optimization of the use of Islamic financial products by the community.
OJK has measured the literacy and inclusion index since 2013, as a form of commitment to continue to encourage the Islamic financial services sector industry in Indonesia. The Islamic financial literacy and inclusion index is one of the indicators that serve as a reference for the level of understanding and use/access of the Indonesian people to Islamic financial products/services.
The purpose of holding SNLKI periodically is to provide an evaluation for policy makers regarding the condition of public financial literacy and inclusion and get an overview to determine programs to improve financial literacy and inclusion, especially in the sharia sector in Indonesia.
According to the Deputy Governor of Bank Indonesia, Mr. Juda Agung, the challenges of the Islamic financial industry sector face 3 main problems. First, the vast industrial sector also makes the issue of production availability and quality of raw materials as one of the challenges in providing halal products. Second, innovation of Islamic finance business models to expand the investor base and digital utilization. Third, Financial Literacy and Islamic Economics. The literacy point is a special concern that continues to be pursued by all stakeholders to continue to encourage an increase in financial literacy rates and Islamic economics.
As an organization of academics and practitioners who conduct studies, development, education, socialization and literacy of Islamic economics, IAEI also supports through various programs. Conventionally, IAEI actively provides literacy through Public Lectures, Seminars, Talkshows and Workshops, Studies and Focus Group Discussion to the Indonesia Sharia Financial Olympiad (ISFO) competition with the Financial Services Authority which reaches primary and secondary education.
In addition, IAEI is also active in creating literacy content on social media to reach a wider public. Programs such as EKSIS (Islamic Economics and Strategic Issues), Islamic Economic Horizon, LISTEN (Literacy on Islamic Thought and Economics) and the Bulletin of Islamic Financial Economic Research (BREAKS) try to provide insight into Islamic economics.
