GraSPP joined Asian Development Bank Institute (ADBI) and Institute for Economic and Social Research, Faculty of Economics and Business, University of Indonesia (LPEM FEB UI) to host an international workshop titled “Indonesia-Japan Policy Research Forum for Asia: Financial and Technological Literacy for Sustainable and Inclusive Development in Asia” in Jakarta on November 7 and 8, 2019.
One of the biggest challenges to growth and development in emerging Asian economies is the “middle income trap,” or the inability to transition from a middle-income country to a high-income country. Financial technology (Fintech) could help emerging Asian economies avoid the middle income trap by expanding business and household access to financial services.
The Indonesia-Japan Policy Research Forum for Asia—supported by Toshiba International Foundation (TIFO)—brought together policy makers and experts to explore the potential for Fintech to promote sustainable and inclusive development in Asia. The focus was on raising financial and technological literacy to fully capture the benefits of Fintech while mitigating associated risks. About 120 people, including government officials, industry experts and researchers from ADB member countries, joined the discussion.
The workshop was opened by ADBI’s Dean Naoyuki Yoshino’s video presentation, followed by the welcome remarks by Vice Dean Beta Yulianita Gitaharie from Faculty of Economics and Business, University of Indonesia. The keynote addresses by three prominent speakers were given during the course of the workshop.
Prof. Dr. Suahasil Nazara, Vice Minister of Finance, Republic of Indonesia
Mr. Bandie Widiarto, Director, Department of SMEs Development and Consumer Protection, Bank Indonesia
Prof. Dr. Dorodjatun Kuntjara-Jakti, Professor Emeritus, Faculty of Economics and Business, University of Indonesia; and former Coordinating Minister for Economy and Finance
Qonita Rahmah (right), a second-year master’s student at GraSPP, participated in discussion and provided assistance with the support of the Scholarship Office of Indonesia’s Ministry of Finance.
The workshop program and speakers were as follows.
<Session 1: Financial technology platform in Asia>
Chair: Riatu M. Qibthiyyah, Director, LPEM FEB UI
Naoko Nemoto, Financial Economist, ADB Institute
Febrio Kacaribu, Head of Research Group on Macro and Financial Sector, LPEM FEB UI
Achmad Nusjirwan Soegondo, Executive Vice President, PT Bank BPTN
<Session 2: Innovative approaches to improving financial and technological literacy>
Chair: Chaikal Nuryakin, Head of Research Group on Digital Economy and Behavioral Economics, LPEM FEB UI
Naoyuki Yoshino, Dean, ADBI (video presentation)
Shinobu Nakagawa, Director-General, Public Relations Department, Bank of Japan
Naphongthawat Phothikit, Director, Financial Technology Department, Bank of Thailand
<Session 3: Country experiences in financial and technological literacy promotion>
Chair: Toshiro Nishizawa, Professor, GraSPP, The University of Tokyo
Ayu Sukorini, Head of the Center for Financial Sector Policy, Fiscal Policy Office, Ministry of Finance, Republic of Indonesia
Sukarela Batunanggar, Deputy Commissioner of OJK Institute and Digital Finance, Indonesia
Napaschon Thongsomjit, Acting Senior Advisor, Office of the National Economic and Social Development Council (NESDC), Thailand
<Session 4: Financial and technological literacy to address risks>
Chair: Nella Sri Hendriyetty, Senior Capacity Building and Training Economist, ADBI
Sayaphet Phanthaboun, Deputy Director, Financial Institution Supervision Department, Bank of the Lao PDR
Gerald Duane Ramirez, Economist, International Finance Group, Department of Finance, Philippines
Amran bin Alias, Principal Economist, Fiscal and Economics Division, Ministry of Finance, Malaysia
<Session 5: Strategy to promote financial and technological literacy for financial inclusion>
Chair: Prani Sastiono, LPEM FEB UI
Brigitta Aryani, Head of Government Relations and Policy, GO-PAY
Somphea Sok Top, Chief Operating Officer of WB Finance and CMA Board of Directors, Operations, WB Finance Ltd., Cambodia
Thuy Anh Nguyen, Official, Payment Systems Department, State Bank of Vietnam
Nella Sri Hendriyetty, Senior Capacity Building and Training Economist, ADBI
Naoko Nemoto, Financial Economist, ADBI
Toshiro Nishizawa, Professor, GraSPP, The University of Tokyo
Riatu M. Qibthiyyah, Director, LPEM FEB UI