Government Updates National Strategy for Financial Inclusion

On 7 December 2020, President Joko Widodo signed Regulation of the President No. 114 of 2020 on the National Strategy for Financial Inclusion (“Regulation 114/2020”) as part of efforts to improve the welfare of the general public through the achieving of financial inclusion for all of Indonesia’s citizens.[1] Previously, the same matters were comprehensively addressed under Regulation of the President No. 82 of 2016 (“Regulation 82/2016”), which has now been repealed and replaced through the issuance of Regulation 114/2020.[2]