World & BusinessIndonesia’s plan to open bank accounts for more than 200 million people
A Jakarta Post analysis says the estimated Rp 11 trillion (US$619 million) cost is hard to justify, citing tight public finances and financial inclusion already at 93.61 percent.
TLDR
The Jakarta Post describes a government plan to open bank accounts for more than 200 million Indonesians aged 17 and above, at an estimated cost of Rp 11 trillion (US$619 million). Its analysis argues there is little reason to give new accounts to almost every adult, including those already banked. If the goal is to reach the unbanked or improve social assistance, it says scarce public funds should target people who actually need them.
Indonesia’s plan to open bank accounts for more than 200 million people
A Jakarta Post analysis says the estimated Rp 11 trillion (US$619 million) cost is hard to justify, citing tight public finances and financial inclusion already at 93.61 percent.
TLDR
The Jakarta Post describes a government plan to open bank accounts for more than 200 million Indonesians aged 17 and above, at an estimated cost of Rp 11 trillion (US$619 million). Its analysis argues there is little reason to give new accounts to almost every adult, including those already banked. If the goal is to reach the unbanked or improve social assistance, it says scarce public funds should target people who actually need them.
