Indonesia’s OJK is ramping up efforts to improve financial literacy as rising car sales and credit demand clash with widespread misunderstandings about borrowing risks. The regulator warns against social media-driven impulsive spending and aims to foster more informed consumer choices through digital campaigns and education initiatives.
Indonesia’s Financial Services Authority, OJK, is stepping up its push for financial literacy as more buyers use credit to acquire cars, warning that fashionable spending habits can quickly damage household finances. At a consumer education session at the Gaikindo Indonesia International Auto Show in Tangerang on Friday, the regulator said people should understand the risks and obligations that come with borrowing before signing up for vehicle finance.
The event, held with Toyota Astra Financial Services under the banner “Literasi dan Inklusi Keuangan: Cerdas Mengelola Keuangan, Bebas Cemas di Masa Depan”, was designed to help consumers make more informed choices before using financing products. Ezar Kumendong, a director at TAF, said financial literacy is the basis of healthy lending and that customers who fully understand both the product and their own finances are more likely to make sound decisions.
The timing of the campaign comes as Indonesia’s automotive and financing industries continue to expand. Gaikindo data show domestic car sales in the first half of 2026 reached 436,564 units, up 15.9% from a year earlier. OJK data also show financing receivables rose to Rp511.26 trillion in June 2026, a year-on-year increase of 1.88%, suggesting demand for vehicle credit remains firm.
The gap between access to finance and real understanding of financial products remains wide. OJK’s 2025 National Survey of Financial Literacy and Inclusion put literacy at 66.46% and inclusion at 80.51%, indicating many Indonesians are using financial services without fully grasping the benefits and risks. In response, OJK has continued its Gencarkan campaign, which it says reached about 4.56 million participants through more than 37,000 education activities in 2025, supported by more than 21,000 digital content items that drew 306.7 million visits.
Officials also used the session to warn about impulsive spending driven by social media trends, citing terms such as fear of missing out, fear of other people’s opinion, you only live once and doom spending. Participants were also briefed on digital financial crimes, including illegal online lending, fraudulent investment schemes, fake SMS masking, impersonation and social engineering. Enriche Putera Hutama of OJK’s literacy and education directorate said consumers should follow the “2L” rule: make sure a product is Legal and Logis, or logical, before using a financial service or making an investment.
According to OJK, the GIIAS programme is part of a wider effort to broaden financial education as the use of vehicle financing grows in Indonesia. In separate statements in April and July 2026, the regulator also said it was sharpening its literacy and inclusion strategy through data-driven digital campaigns, closer consumer protection work and stronger coordination with stakeholders.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
