60% of Balinese people unbankable

Around 60 percent of Bali’s 3.9 million population have no access to banking services and have a very limited knowledge of banking, a survey revealed. Wayan Sudja, director of the regional bank, Bank Pembangunan Daerah (BPD), said that the current banking industry had not reached these “bankless” people in society. “They can be our first target, expanding banking services to these unreachable but potential would-be clients,” Sudja said, as quoted by Antara news agency.

Banks and other financial institutions must be active in educating the community on the importance of savings and using banking services to benefit their lives. He also said many people, such as rich village farmers, had a lot of money but still did not have a bank account. They usually used their money to buy property and items made of gold. According to data from the central bank, Bank Indonesia, the growth in bank saving accounts in Bali stood at 25 percent in 2012.

source : bali daily

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