Sharia financial literacy, inclusion down in 2026: KNEKS evaluates data

Indonesia's Sharia financial literacy and inclusion rates experienced a minor decline in 2026, a trend that contrasts with the steady growth in conventional finance. The National Survey of Financial Literacy and Inclusion (SNLIK) revealed that Sharia financial literacy dropped to 43.07%, a 0.35 percentage point decrease from 2025, while inclusion fell to 13.24%, down 0.17 points.

In stark contrast, conventional financial literacy climbed to 69.57% in 2026, an increase of 2.93 points from the previous year. Conventional financial inclusion also saw a significant rise, reaching 93.53%, up 0.92 points. This divergence highlights a persistent gap and suggests a need for more robust government and stakeholder efforts to bolster the Sharia finance sector.

Officials from the National Committee for Islamic Economics and Finance (KNEKS) offered explanations for the shift. Sutan Emir Hidayat, Director of Sharia Ecosystem Infrastructure, pointed to methodological changes in the SNLIK 2026 data collection. Unlike the national-level scope in 2025, the 2026 survey included provincial data, resulting in a more comprehensive dataset. Hidayat noted that this expansion of samples, while scientifically valuable, could introduce statistical biases, potentially contributing to the observed decrease.

Beyond methodological factors, Hidayat acknowledged a more fundamental challenge: the public's greater familiarity with conventional financial institutions. "Generally, people know conventional [finance]. If you ask, in the general public's mind, what financial institutions come to mind? Mostly conventional, both state-owned and private," he stated. This ingrained awareness of conventional finance presents an ongoing hurdle for Sharia finance, despite its literacy rate remaining substantial at over 43%. The significant gap between Sharia literacy (43.07%) and inclusion (13.24%) underscores the challenge of converting awareness into active participation.