Sharia Education by OJK
The Financial Services Authority (OJK) invites 1,200 students of the University of Muhammadiyah Yogyakarta (UMY) to be financially literate in the midst of the digital era and the phenomenon of investment and illegal fintech. This activity was held in a blended manner (offline and online) in collaboration with the Economics Study Program, Faculty of Economics and Business (FEB) UMY. The activity which was held on Thursday (28/7) was themed ‘Sharia Finance Education for UMY Students’.
Horas VMTarihoran, Director of Financial Literacy and Education at OJK said that countries that have good levels of literacy and financial inclusion also have good levels of economic growth and income distribution. “Therefore, OJK provides preventive measures to provide financial literacy to the public, especially to students,” he explained.
Horas also added that people’s financial literacy in Indonesia is still very low, but it is different from Generation Z who have started to be financially literate. “This is not enough, we still have to carry out financial literacy activities. Considering that in the midst of the phenomenon of many frauds that are rife, there are many fraudulent investments that take many victims from the community, as well as victims of illegal fintech, and this is very unfortunate,” he added.
He also emphasized taking preventive action through education for students to be more financially literate. “Financial literacy is needed so that students can take advantage of existing financial service products to make our lives more prosperous. In addition, we hope that students can share the information they get to their fellow students about the importance of financial literacy,” he explained.
The same thing was conveyed by Prof. Rizal Yaya, SE, M.Sc., Ph.D., Ak., CA., CRP, Dean of FEB UMY that this activity is very important to be carried out by students considering there are many cases of students involved in fraudulent investment cases to illegal fintech. “We hope that this will not happen again through financial literacy efforts. This effort is very important for students to be wiser in terms of managing finances. So that after this activity students understand and can use finances well, then the knowledge can be disseminated to the public about the importance of financial literacy,” added the UMY Professor.
Yaya also appealed to students to also be literate in managing Islamic finance. “Not only conventional financial literacy, the importance of Islamic financial literacy is because there are advantages of Islamic finance, namely real and mobile transactions in connection with encouraging real economic growth so that the economy is stronger. Therefore, it became the basis for the Indonesian government to adopt Islamic finance during the financial crisis of 98-99 and it became a more stable financial system. Therefore, I hope that students can get involved and practice Islamic finance,” he concluded.(Sofia)