Indonesia's government is preparing an automatic account program intended to replace its existing subsidy scheme and push financial inclusion wider, according to Stockbit Snips. The plan, reported on Thursday, would give citizens bank accounts directly rather than routing support through current subsidy channels.
Stockbit Snips reports that Rp11 trillion has been set aside for the mass account-opening effort, citing a report by epaper.mediaindonesia.com. Finance Minister Purbaya said the budget for opening accounts at scale is not yet final, according to ANTARA News Jambi.
The proposal has drawn parliamentary scrutiny. A member of Commission II asked that the distribution of accounts to Indonesian citizens begin with fixing population data at Dukcapil, the civil registry office, Kumparan.com reported. The concern points to data accuracy as a prerequisite before accounts can be issued at scale.
Context for the plan: CNBC Indonesia reported that accounts held by Indonesian residents have already passed 700 million, and that the total is expected to keep growing. That figure suggests the account-opening push would add to an already large base rather than start from nothing.
The program sits at the intersection of two policy goals — changing how subsidies reach households and bringing more people into the formal financial system. The reporting so far covers the funding figure, the minister's caveat that the budget remains unfinalized, and the legislative call to first clean up civil registry data.
What to watch next: whether the government finalizes the account-opening budget and how it addresses the Dukcapil data question before rolling the program out.
