Financial Inclusion Month (Bulan Inklusi Keuangan - BIK) 2024 in Indonesia has set an impressive benchmark this year, achieving far beyond initial targets and setting a new standard for inclusive financial engagement. Throughout October, the Financial Services Authority (Otoritas Jasa Keuangan, or OJK) recorded a staggering 9.5 million new financial product and service accounts, marking a 19.82% rise compared to the previous year. This achievement has exceeded the OJK’s original goal of a 10% increase, announced at the BIK 2024 launch in Balikpapan on October 5.

Under the theme "Inclusive Financial Access, Empowering a Productive Society," BIK 2024 has mobilized financial service providers from various sectors across Indonesia, covering both conventional and sharia (Islamic) finance. These providers—ranging from banks to fintech firms and capital market participants—actively contributed to this broad initiative, delivering tangible results. Notably, BIK 2024 organized over 6,100 events, a dramatic increase from 2023, and drew 6.4 million participants nationwide—an upsurge of more than 4 million people from last year. The scale and reach of these efforts highlight both an expanding demand and an ongoing commitment to making financial services more accessible across Indonesia.

The specific achievements within each financial sector underscore the impact of this program. The banking industry alone saw the creation of 3.5 million new accounts, indicating a solid push toward traditional banking inclusion. Meanwhile, the capital market registered 156,537 new securities accounts, while insurance providers issued 745,218 new policies, showing a growing awareness and uptake of financial security measures. The financing sector disbursed loans to 764,201 new borrowers, supporting the credit needs of individuals and small businesses alike. Additionally, fintech companies opened 856,857 new accounts, reflecting the essential role of digital financial solutions in reaching previously underserved populations. Even the pawnshop sector saw significant engagement, with 3.4 million new accounts opened—a testament to the variety of accessible financing options available to Indonesian communities.

The month-long program also included educational initiatives aimed at enhancing financial literacy. These ranged from seminars and webinars to financial education activities in schools and universities, designed to foster financial understanding across different age groups. By including outreach programs, product consultation clinics, and business matching events, BIK 2024 provided individuals and businesses with tailored opportunities to explore their financial options. Training sessions for financial facilitators and extensive consumer protection campaigns further amplified the impact, addressing both literacy and protection needs within the community.

OJK’s Chief Executive of Consumer Protection, Financial Education, and Behavior Monitoring, Friderica Widyasari Dewi, credited the program’s success to the collaborative efforts of government ministries, financial institutions, and other key stakeholders. She noted that such synergy will be crucial to achieving Indonesia’s ambitious financial inclusion targets: a 90% inclusion rate by 2024 and a long-term target of 98% by 2045 under the "Indonesia Emas" (Golden Indonesia) vision.

Since its inception in 2016, BIK has been a central pillar of Indonesia’s efforts to broaden financial access. Coordinated by OJK and involving multiple stakeholders, BIK forms part of the broader National Financial Literacy Movement (GENCARKAN), which was officially launched in August 2024. By championing programs like BIK, Indonesia is taking significant steps toward a more financially inclusive society—one where every citizen has the tools and opportunities needed to build economic resilience.