The advancements of the digital era bring both convenience and challenges, particularly affecting younger generations. The phenomena of illegal online loans (pinjol) and online gambling (judol) have become serious threats that destabilize finances through uncontrollable debt traps. Financial education, therefore, becomes crucial to help the public manage their finances more wisely.
As a concrete step, Universitas Terbuka (UT), in collaboration with Bank Muamalat, organized a National Webinar titled “Building Financial Health: Avoiding the Risks of Pinjol and Judol” on December 10, 2024, via the UTTV YouTube channel. The event aimed to enhance financial literacy, provide insights into building healthy finances, and offer practical solutions to avoid the risky traps of pinjol and judol.
The Dean of UT’s Faculty of Teacher Training and Education (FKIP), Prof. Dr. Ucu Rahayu, M.Sc., emphasized UT’s commitment as a state university that reaches all layers of society regardless of geographical, social, or economic boundaries. “This webinar reflects UT’s mission to educate the nation on relevant issues, including promoting financial health among the public,” Prof. Ucu stated.
The webinar featured two expert speakers: Novie Hesti, S.E., M.M., Business Research & Analyst at Bank Muamalat, and Muhammad Sulaiman, S.Pd.I., B.I.S., M.Pd., Head of the Islamic Education Program (PAI) at UT. Together, they presented complementary approaches—practical and spiritual—to addressing current financial challenges. Additionally, this webinar aligns with UT’s efforts to support Sustainable Development Goal (SDG) 8, aiming to develop knowledge that indirectly contributes to economic growth.
In her presentation, Novie revealed staggering facts about the prevalence of judol and pinjol, which disrupt financial stability and health. The total judol transaction value in 2023 reached IDR 327 trillion, and alarmingly, over 80,000 children under the age of 10 were already addicted to online gambling. “This is a major challenge, not only for Bank Muamalat but also for parents and society at large to protect Generation Alpha from online gambling addiction,” she stated.
Meanwhile, pinjol contributes to financial vulnerability, with national debt from online loans reaching IDR 72 trillion as of August 2024. Novie cautioned against the deceptive convenience of illegal pinjol schemes, which result in crushing interest rates and debt traps. She also shared financial management strategies, including calculating healthy debt ratios, tips for debt repayment, and the importance of preparing for retirement funds.
Muhammad Sulaiman, M.Pd., viewed the phenomena of judol and pinjol as harmful shortcuts. Quoting verses from the Qur’an, the PAI program head stressed the importance of wise financial management and avoiding exploitative practices like usury (riba), which ultimately harm oneself. “The winners in gambling are only the operators. Gambling brings significant losses, both financial and spiritual,” he emphasized.
Sulaiman also highlighted the dangers of illegal pinjol, which not only causes economic harm but also strips away blessings from life. He urged the public to return to principles of healthy financial management aligned with spiritual values.
Through this collaborative webinar, Universitas Terbuka and Bank Muamalat invited the public to recognize the importance of healthy financial management as a key to building a stable future. The knowledge gained from this webinar is expected to motivate younger generations to manage their finances wisely, avoid financial pitfalls, and develop well-thought-out future plans.
