Indonesia Delays Free Bank Account Program for Citizens Aged 17 and Above - Tempo.co English

TEMPO.CO, Jakarta - The Indonesian government’s proposed free bank account program for citizens aged 17 and above will not be launched this year, as authorities refine the operational framework to ensure the new accounts remain active, Coordinating Minister for Economic Affairs Airlangga Hartarto said.

“We are still discussing it this year,” Airlangga said in Jakarta on Wednesday.

The Indonesian minister said the government is preparing a budget of around Rp3.8 trillion (US$213.48 million) to provide an initial balance of Rp50,000 (US$2.81) for every eligible citizen aged 17 and above.

“We want to review with the Finance Minister what kind of follow-up programs are appropriate. We know that existing social assistance is typically provided to married individuals. So, for those aged 17 and above who are unmarried, we are looking at what programs can be offered to ensure their accounts do not become dormant,” Airlangga said.

The initiative follows a directive from President Prabowo Subianto to boost national financial inclusion and literacy by ensuring that every citizen has access to formal banking services.

Under the scheme, the government is preparing mechanisms for mass account openings through state-owned lenders Bank Rakyat Indonesia (BRI) and Bank Syariah Indonesia (BSI).

To streamline implementation and broaden coverage, the government plans to synchronize population data from the Home Affairs Ministry’s Population and Civil Registration System (Dukcapil) directly with Bank Indonesia’s payment and gateway infrastructure, including the Quick Response Code Indonesian Standard (QRIS).