We have committed to delivering our financial education MoneyMinded program with Yayasan Cinta Anak Bangsa (YCAB) – a not for profit organization that focuses on providing micro-loans to women in Jakarta, Indonesia.
YCAB has over 5,000 clients in various underdeveloped areas across Jakarta, including the densely populated Tanah Abang district. Most women living in Tanah Abang are considered “unbankable” due to the nature of their living conditions, yet, some of these women make more than AUD 900 per month, well above the average national income of approximately AUD 3,000 per year. However, even those generating such sums find it difficult to save money, even as little as AUD 10 per month.
Working with MoneyMinded facilitators, participants are improving their budgeting, savings and money management skills. One participant, Sunarmi explains: “My biggest obstacle is the fact that our spending is often higher than our income and it has been a struggle for us for quite a while”.
Joseph Abraham, CEO Indonesia says: “MoneyMinded is a valuable tool in helping us to contribute to improving the financial skills of the more vulnerable sections of the country as well as helping us to meet our commitments to be a responsible bank here.”
Since its inception, nearly 4,000 facilitators have been trained to deliver MoneyMinded, collectively delivering the program to over 125,000 people in Australia and Asia-Pacific. Working with our partners, we aim to reach a further 200,000 people across the countries where we operate over the next five years.
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