Government initiates fintech seminar during IMF-WB meeting

Jakarta (ANTARA News) - The government has initiated a seminar on financial technology (fintech) during the annual meeting of the International Monetary Fund-the World Bank (IMF-WB) in Nusa Dua, Bali.

"Indonesia proposed the seminar on digital economy or Bali Fintech Agenda. This is the only flagship seminar initiated by the government of Indonesia," Chief of the organizing committee for the IMF-WB annual meeting, Susiwijono, said here on Monday.

The Bali Fintech Agenda would be held on Thursday (Oct 11), where President Joko Widodo would give his keynote speech.

Among the panelists at the seminar are IMF Managing Director Christine Lagarde, World Bank President Jim Yong Kim, and Indonesias Finance Minister Sri Mulyani.

"The seminar would use the meeting agenda to encourage a global agreement on financial technology that could become a key reference for world countries," he noted.

IMF and WB are formulating the principal of financial technology based on the agenda of its members who have an influence in financial inclusion, stability, and integrity.

According to a data of the Indonesia Fintech Association (Aftech), Indonesia has 235 fintech companies as of 2017.

Fintech lending sector has contributed Rp26 trillion to the countrys gross domestic product (GDP) and absorbed 215 thousand workers.

The government has encouraged development of fintech to increase the countrys financial inclusion to 75 percent by 2019.

Source: ANTARA News

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