REPUBLIKA.CO.ID, NUSA DUA -- Bank Indonesia (BI) noted that financial literacy in Indonesia was influenced by age, education level, gender, and geographical distance of a consumer to the bank branch.

Director of Financial System Stability of BI Mulya Siregar said women have higher levels of financial literacy than men.

"Analysis showed that women are more dominant in managing finances although men are more understanding about finances," Mulya said in an international seminar on financial literacy Nusa Dua, Bali, Tuesday (3/12).

BI survey conducted in 2012 stated that financial literacy was closely related to age and education level. The more mature of consumers, the more improved in financial literacy understanding. But the understanding will be reduced at a certain age.

The survey also indicated that the higher one's education, the higher their understanding of financial literacy. The high preference for avoiding risk showed good understanding of the community for the topic.

Ed: Nidia Zuraya

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