Minister of Finance Republic of Indonesia, Sri Mulyani, signed the inauguration of UMM Tax Center UMM, Indonesia Stock Exchange (BEI) UMM, and Gallery Futures Exchange of Indonesia. (Photo: Rino)
The development of financial sector in Indonesia especially non-banking is still very low, according to the Minister of Finance, Sri Mulyani. In fact, financial market is the source of government in development. Based on the newest data, financial inclusion is still around 3% of the total population of Indonesia, while banking sector is up to 80%.
Sri Mulyani did a visit to University of Muhammadiyah Malang (UMM) on Wednesday (28/12). To her, campus has a big role to educate professionals to increase Indonesia financial sector.
Therefore, the role of the three units in related fields such as UMM Tax center, Indonesia Stock Exchange (BEI) of UMM, and Gallery Futures Exchange of Indonesia are the effective way to be a laboratory for students in financial field. Trough those three centers, Faculty of Economy and Business (FEB) UMM tried to make a learning pattern that combine both theory and practice.
According to Dean FEB UMM, Dr Idah Zuhroh MM, the mission of FEB is to train and educate professionals who are competence in financial, stock market, and securities market. FEB graduates will be financial market doer such as investor or will be professional doer such as broker and consultant. “Financial market penetration should come from internally. But, in Indonesia, financial market is not stable yet”.
Idah said that, the roles of those three units are not only providing literacy and consultation but also prepared to become an estate transaction institution. In this case, Tax Center, BEI, and Gallery Future Exchange are running according to Tri Dharma College (Tri Dharma Perguruan Tinggi).
Currently, the Tax Center UMM has served tax number registration, tax payment, online reporting guided by Tax Center officer, and tax literacy and consultation. In the future, the graduates of accounting studies of UMM will be certified Tax Consultant (BPK) in collaboration with Department of Taxation.
Meanwhile, universities as institutions should be able to provide literacy to the students who will be economy doers and the societies should contribute in capital markets. BEI investment gallery, for example, should provide financial data and portfolios financial analysis that are beneficial and can be learned by students.
Going forward, BEI will develop students' skills through simulated lectures as an anticipation of rapid price changes in markets. Real transaction development did by BEI will be run. Stock investment socialization in BEI is not only done by students but also by lecturers in UMM.
Idah explained, "If individuals know the benefits and importance of contributing in the stock market, it would be very nice. For instance, 10,000 of the 30,000 students of UMM invest one million rupiah, so the total will be ten billion rupiahs. It will be great if lecturers also join the investment. This is the program of BEI in the future”.
Not only that, FEB also has Islamic bank that has been run since years ago. Nowadays, FEB Islamic bank has around 2000 customers who are served everyday at 8 to 15 as other commercial banks. (Ich / han)