Contribute Improving Indonesian Financial Literacy Index

Manulife Asset Management Indonesia (MAMI)

1. No Poverty 4. Quality Education 8. Decent Work and Economic Growth 9. Industry, Innovation and Infrastructure

Overview

The Indonesian population still has low financial literacy compared with peers in the Asia-Pacific region. The importance of financial literacy to individuals, households, and nations still is a major issue in Indonesia. The government has initiated a number of actions to improve this, however, they can not work alone, they need support from other stakeholders.

MAMI has always been committed and contributed to Indonesia and supports government programs in relation to financial literacy and inclusion. MAMI believes that without an understanding of basic financial concepts, people are not well equipped to make decisions related to financial management. Therefore with this knowledge people will have better decisions on saving, investing, borrowing, and planning for the future.

Author

hariesya ivan

hariesya ivan

School

IPMI International Business School

IPMI International Business School

Professor

Amelia Naim Indrajaya

Amelia Naim Indrajaya

Innovation

Focusing on financial literacy and inclusion, MAMI organizes various activities in universities and schools and also has programs to share financial understanding with people. Its contents are informative and entertaining (edutainment), broadcasted on TV. MAMI also created articles for money management for various demographics and published it through both online and offline media. They also created content that is published in social media.

Since 2013, MAMI launched a simple education concept with a theme 3Is “INSYAF – IRIT – INVEST” (Aware-Economical-Invest) and developed financial education modules, then implemented the concept by giving financial literacy sessions or workshops from one university/school to another, and to various communities.

MAMI also has some projects/events for financial education such as writing competitions for students, short movie project competitions cooperated with Kinescope Indonesia, producing an educational comic book Si Juki vs Dompet Kosong (“Juki vs an Empty Wallet”).

Since 2013, other than financial education in schools, MAMI shows its commitment to supporting the government’s national financial literacy improvement program via educative TV programs namely “Cerdas 5 menit” (Smart in 5 minutes), a talk show that is broadcast every day on Metro TV. They also have other talk shows discussing financial enlightenment on various radio stations, and recently MAMI launched a podcast to reach more people especially millennials utilizing a digital platform.

Contribute Improving Indonesian Financial Literacy Index

One of Financial education events in University - Writing competition and Workshop in IPB

Inspiration

Financial literacy has become one of the key issues in Indonesia, there is a big concern that citizens are lacking financial knowledge and do not have the tools for their economic well-being improvement. It means this issue has an impact on individuals or family’s day to day money management and ability to save for long term goals such as buying a house, seeking higher education, or preparing for retirement.

MAMI has a commitment to financial literacy education, to provide access for financial education and advice that enable individuals to be knowledgeable, responsible for the financial decisions, and also giving them the confidence, they need to save and invest for a bright future.

Overall impact

There is a significant improvement in the Indonesian financial literacy index that is surveyed by OJK (Regulator). Every year the index increases despite still having a lot of work to do to catch up. And MAMI also contributes to this.

Business benefit

The Asset Under Management is growing, the company also has a strong relationship with the regulator (OJK), and the investor’s trust toward MAMI to manage their investment has continued to increase.

Social and environmental benefit

Financial education can help to achieve several SDG Goals as follow:

  • Contribute to eliminating poverty (SDG 1): Without good money management, people cannot grow or are vulnerable if they lose a source of income. The ability to manage the source of income will determine their economic well being.
  • Improve and ensure quality education (SDG 4): basic financial knowledge could drive parents to prepare their kids' future education, eliminate wrong decisions for people who invest due to expecting high returns (“junk Investment”). Many misguided people invest in junk shares and then lose their money. MAMI's focus is to help and provide enlightenment for people regarding financial knowledge and tools.
  • Improving economic well being (SDG 8): People who are aware and understand financial basic knowledge will be able to do better planning on their spending
  • Contribute to the development of Industry, innovation, and infrastructure (SDG 9): More people are aware of investment which will impact positively on the capital market. Hence more assets under management could be utilized to drive and improve national economic growth.

Interview

Dyah Wulandari, Head of Corporate Affair

Keep this story going! Share below!

Manulife Asset Management Indonesia (MAMI)

Manulife Asset Management Indonesia (MAMI)

Jakarta, ID

Business Website: https://reksadana-manulife.com/

Year Founded: 1996

Number of Employees: 51 to 200

Indonesia has low financial literacy compared with peers in the Asia-Pacific region. The importance of financial literacy to individuals, households, and nations is still a major issue in Indonesia. The government has initiated a number of actions to improve this, however, they can’t work alone, they need support from other stakeholders.

MAMI has always been committed and contributed to Indonesia and supports government programs in relation to financial literacy and inclusion. MAMI believes that without an understanding of basic financial concepts, people are not well equipped to make decisions related to financial management. Therefore, with this knowledge people will make better decisions on managing their money, whether it is saving, investing, spending, or borrowing money.