In this Global Platform video, Jahja Setiaatmadja, president director of Bank Central Asia, talks about the importance of digital technology, such as online banking and digitalised transactions, in adapting to the rising use of fintech in the market. Indonesia’s target growth rate is set to exceed the global average, at 5.3% for 2020. This, along with an inflation rate of only 3% and a stabilised exchange rate, will help attract investors in the coming years. Furthermore, the growth of retail, fashion, food and tourism infrastructure is expected to attract rising rates of foreign investment moving forward.
Prior to the outbreak of Covid-19, Myanmar's insurance sector was going through a period of rapid change following the entry of foreign insurers in 2019. Amid the disruptive environment of the pandemic, the fledgling insurance industry has continued to develop new distribution channels and services in response to shifting demands from the market.
Myanmar has seen an increase in financial technology (fintech) and digital payment offerings since the outbreak of the coronavirus pandemic, raising hopes for the expansion of financial inclusion in a country where banking penetration remains below the regional average.
While the pandemic has placed extra strain on the Philippines’ health care system, increased awareness of health risks could lead to a spike in private insurance coverage.
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