Impact of COVID-19 on CICO agents in Indonesia

• by Agnes Salyanty, Alfa Pelupessy, Ira Aprilianti, Louie Cepe and Sheila Carina
• Apr 14, 2021
• 1 min
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This study assesses the impact of COVID-19 on the demand for financial services through agents and agent operations. It seeks to understand the ability of cash-in cash-out (CICO) agents to support government assistance programs. The study further provides recommendations to support policy development and aid the recovery of CICO agents in Indonesia.

COVID-19 has left businesses around the world struggling to keep afloat. Cash-in cash-out (CICO) agents are no exception. This report assesses the impact of COVID-19 on the macro environment, business operations, income and expenses, and management practices of CICO agents in Indonesia. It offers insights into the gender dynamics of CICO agents and their clients. The report further provides recommendations for the Government of Indonesia (GoI) and financial service providers to aid the recovery of CICO agents.