Ahad 01 Sep 2024 01:31 WIB

Literacy Rate of Sharia Capital Market is Still Far Below Conventional

Technology is assessed as potential for young people to invest in Sharia

Rep: M Nursyamsi/ Red: Budi Raharjo
Visitors seek information during Sharia Investmen Week (SIW) or Sharia Investment Week 2024 in BEI, Jakarta, Friday (7/6/2024). SIW 2024, held until June 8, 2024, aims to improve broader and inclusive sharia capital market literacy and strengthen capital market branding in Indonesia.
Foto: ANTARA FOTO/Akbar Nugroho Gumay
Visitors seek information during Sharia Investmen Week (SIW) or Sharia Investment Week 2024 in BEI, Jakarta, Friday (7/6/2024). SIW 2024, held until June 8, 2024, aims to improve broader and inclusive sharia capital market literacy and strengthen capital market branding in Indonesia.

REPUBLIKA.CO.ID, JAKARTA — Task Manager (Plt) Deputy Office of the Financial Services Authority (OJK) of West Sumatra Province (Sumbar) Irawati said the importance of increasing literacy and inclusion in driving the acceleration of Indonesia's sharia capital market. Irawati said the OJK periodically organizes the National Survey of Financial Literacy and Inclusion (SNLIK) to measure people's level of understanding and use of financial services products.

“In SNLIK 2024 for 2023 data, the Financial Literacy Index (ILK) was 65.43 percent and the Financial Inclusion Index (IIK) was 75.02 percent,” said Irawati during the Financial Merdeka 2024 event on Saturday (August 31, 2024).

Baca Juga

Irawati detailed conventional ILK service types in 2023 at 65.08 percent and Islamic ILK in 2023 at 39.11 percent. Meanwhile, conventional IIK in 2023 amounted to 73.55 percent and Islamic IIK was 12.88 percent.

“So the literacy and financial inclusion of the sharia is still far below the conventional one. If we look specifically at ILK conventional capital market it is 15.32 percent, while ILK sharia capital market is only 5.48 percent,” Irawati said.