JAKARTA - As of Q3 2019, the Financial Services Authority (OJK) recorded the amount of money collected from the student savings and sharia student savings program (Simpel/Simpel iB) reached Rp 8.76 trillion from 21,584,281 accounts.
As quoted from OJK's press release, Simpel is a part of Gerakan Indonesia Menabung (Let's Save Movement), supported by Presidential Decree (Keppres) No.26/2019 concerning National Savings Day. 350 banks participated in this movement, consisting of 21 commercial banks, 10 Islamic banks, 26 regional development banks (BPD), and 294 people's credit banks (BPR / BPRS). There are 347,447 schools participating in this program in Indonesia.
Wimboh Santoso, Chair of the Board of Commissioners of OJK, said that the National Savings Day was expected to develop a culture of saving. "Every nominal saved has a role in encouraging increased financial access and national savings liquidity to support development," he said. (LK/AR)