From prisons to West Kalimantan, Bank DBS Indonesia promotes financial literacy among vulnerable women

Indonesia.07 Aug 2025

Indonesia, 07 Aug 2025 - Bank DBS Indonesia is once again organising Kedai Belajar DBS, a financial literacy education programme to support the Indonesian government's vision of accelerating financial inclusion. This time, driven by the spirit of being a trusted partner in empowering vulnerable communities, the financial literacy activities are focused on vulnerable women in two locations: West Kalimantan in collaboration with The Asia Foundation (TAF); and at the Tangerang Jakarta Class II Correctional Facility in collaboration with a Singapore-based social enterprise, Agape, one of the awardees for DBS Foundation Grant Programme 2019.The findings of the 2024 National Survey on Financial Literacy and Inclusion (SNLIK)[1] show that the financial inclusion rate in Indonesia has reached 75.02 percent, but the financial literacy rate was only 65.43 percent. This low literacy rate has serious implications, particularly for women. Without adequate understanding needed to make important financial decisions, many find themselves trapped in consumer debt, struggle to save, or are unprepared for an emergency.For women, this can lead to increased financial dependence, limited economic independence, and reduced access to investment and business opportunities. Low financial literacy among women also means they are more susceptible to scams such as illegal online loans that are not supervised by the Financial Services Authority (OJK), bank keliling (informal loan services that charge extremely high interests that operate like loan sharks), and a lack of legal protection and insurance.Head of Group Strategic Marketing and Communications PT Bank DBS Indonesia Mona Monika said, "The financial literacy programme is a tangible manifestation of Bank DBS Indonesia and DBS Foundation's commitment to promoting financial inclusion, especially among vulnerable women who play an important role in managing family finances. The programme is designed for individuals who may lack financial capacity, including female heads of households and female inmates. Through education, they are equipped with the skills needed to plan their finances, make wise decisions, and build economic resilience. This initiative is not just about numbers; it is a concrete step toward restoring dignity, fostering independence, and opening access to a more stable future."Educating Women Entrepreneurs and Teachers in West Kalimantan with TAFIn West Kalimantan, Bank DBS Indonesia organised a financial literacy education programme for 96 vulnerable women, including micro-entrepreneurs, small food and beverage vendors, and teachers.SHE CAN Programme Officer Novi Susanto, who helped facilitate the training, explained that this program was designed to help participants understand the basics of financial management, considering that TAF's study found that the majority of women in West Kalimantan were not familiar with financial record-keeping or keeping their personal and business accounts separate.Moreover, one of the training participants expressed the hope that the financial literacy education programme provided by Bank DBS Indonesia and TAF could improve their welfare, particularly in helping them save money for their children and retirement.The Importance of Education for Female Prisoners for Social ReintegrationApart from organising the financial literacy programme in West Kalimantan, Bank DBS Indonesia also ran a financial literacy programme for female inmates at the Tangerang Class II Correctional Facility. This is crucial to support their social reintegration and economic independence upon release.With an understanding of money management, financial planning, and even starting a small business, they have a better chance of building productive lives, escaping the cycle of poverty, and reducing the risk of recidivism.Sustainable Financial Literacy ProgrammeBank DBS Indonesia, supported by DBS Foundation, has committed SGD 9 million, or more than IDR 100 billion, over the next three years to improve the quality of life and welfare of vulnerable communities in Indonesia, including women, smallholder farmers, young people, and people with disabilities.This is a realisation of DBS Group's commitment, announced in 2023, to allocating SGD 1 billion over the next 10 years to support vulnerable communities. The financial literacy programme includes:The SHE CAN programme (Accelerating Financial Inclusion for Marginalised Women), in collaboration with The Asia Foundation (2024-2027 or three years), aimed at improving financial literacy and inclusion, as well as strengthening leadership and entrepreneurship among 80,000 marginalised women in West Kalimantan.The FEAST programme (Flores Empowerment for Agricultural Sustainability and Transformation), in collaboration with Yayasan Humanis dan Inovasi Sosial (2025-2028 or three years), aimed at building the capacity of 28,000 smallholder farmers in Flores, East Nusa Tenggara, with 50 percent of them being women farmers. This is achieved through education on sustainable and climate-smart agriculture, post-harvest and financial management, as well as improving family nutrition by empowering women so that they can achieve food security.Kedai Belajar DBS, a corporate social responsibility programme run by Bank DBS Indonesia to support the government's efforts to accelerate financial inclusion. Under this scheme, Bank DBS Indonesia employees serve as volunteers through the People of Purpose initiative to share insights and hands-on experience in managing income, expenses, and business cash flow efficiently. The programme not only educates but also empowers communities to make better financial decisions and run sustainable businesses.The DBS Foundation Business for Impact initiative goes beyond grant-giving by providing mentorship and financial education for social entrepreneurs. The goal is to help them build financially sustainable businesses while creating a positive impact on society and the environment."Financial literacy is crucial for women as it gives them greater control over their personal, family, and business finances. With a solid understanding of budgeting, investing, and risk management, women can make wiser and more independent financial decisions. It also plays an important role in narrowing the gender economic gap, strengthening financial resilience during tough times, and opening up opportunities for asset growth and self-empowerment," Mona Monika concluded.For more information about the DBS Foundation programme, please visit https://www.dbs.com/foundation.[END]About DBS FoundationEstablished in 2014, DBS Foundation is committed to uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. It aims to bring hope to those with less today, so no one is left behind and we can all face the future with confidence.In 2024, DBS committed up to SGD 1 billion dollars over the next decade to support vulnerable communities. It also pledged to contribute 1.5 million employee volunteer hours over the same period.Together with an ecosystem of like-minded partners, DBS Foundation seeks to create impact that goes beyond banking, beyond borders, and beyond generations.For more information, please visit: https://www.dbs.com/dbsfoundation.About DBSDBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.Recognised for its global leadership, DBS has been named "World's Best Bank" by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 16 consecutive years from 2009 to 2024.DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets.Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices, 1 Functional Office and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services that focus on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees, and the community towards a sustainable future. PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit https://www.dbs.com.