Marzuki Usman at the Mentor MicroBank Signing November 12th 2013

Marzuki Usman (born 30 December 1943 in Mersam, Batanghari,

Jambi Jambi is a province of Indonesia. It is located on the east coast of central Sumatra and spans to the Barisan Mountains in the west. Its capital and largest city is Jambi. The province has a land area of 50,160.05 km2, and a sea area of 3, ...

) is an

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

and expert on

capital markets A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers to ...

. He also served as Minister of Tourism, Post and Telecommunications (Development Reform Cabinet) and the Minister of Forestry and Plantation (Cabinet of National Unity). He is the current chairman of the

Jakarta Jakarta (; , bew, Jakarte), officially the Special Capital Region of Jakarta ( id, Daerah Khusus Ibukota Jakarta) is the capital and largest city of Indonesia. Lying on the northwest coast of Java, the world's most populous island, Jakarta ...

Stock Exchange and serves in several roles in a politically

non-partisan Nonpartisanism is a lack of affiliation with, and a lack of bias towards, a political party. While an Oxford English Dictionary definition of ''partisan'' includes adherents of a party, cause, person, etc., in most cases, nonpartisan refers sp ...

capacity.

Early life and education

Usman Initially intended to study dentistry, but found he did not have the disposition when he failed the entrance exam for a dental school in the Philippines, and subsequently applied to the Faculty of Economics at

Gadjah Mada University Gadjah Mada University ( jv, ꦈꦤꦶꦥ꦳ꦼꦂꦱꦶꦠꦱ꧀ꦓꦗꦃꦩꦢ; id, Universitas Gadjah Mada, abbreviated as UGM) is a Public university, public research university located in Sleman Regency, Sleman, Yogyakarta (special region) ...

Yogyakarta Yogyakarta (; jv, ꦔꦪꦺꦴꦒꦾꦏꦂꦠ ; pey, Jogjakarta) is the capital city of Special Region of Yogyakarta in Indonesia, in the south-central part of the island of Java. As the only Indonesian royal city still ruled by a monarchy, ...

. He graduated in 1969 with an economics degree specializing in Money and Banking. Usman was employed by the Indonesian government until, encouraged by Indonesian economists, Johannes Baptista Sumarlin and Prof. Dr. Ali Ward, Usman won a scholarship from the Ford Foundation to study at Duke University, Durham, North Carolina, where he earned a Master of Arts in Economics in 1975.

Career

Usman was employed by the Indonesian Ministry of Finance in the department of the Directorate General of Finance in 1969. His continued employment within various ministerial departments led him to later become 'Director of Investment and State Property' and 'Director of the Institute of Finance and Accounting'. He was the head of the Capital Markets Management Agency (predecessor of

Financial Services Authority The Financial Services Authority (FSA) was a quasi-judicial body accountable for the financial regulation, regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investmen ...

), within the Ministry of Finance from 1988-1992 and the head of Education and Training Finance (IRB), also within the Ministry of Finance, from 1991-1995. While he became head of the Capital Market Executive Agency, he introduced reforms and new practices. He was the creator and regulator of

capital market A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers t ...

instruments which enabled rapid growth and an increase in transaction speeds. In 1993 he was appointed as the commissioner of the Jakarta Stock Exchange( BEJ BEJ) and in 1996 he became the head of Monetary and Financial Analysis, again for the Ministry of Finance. Under Indonesia's Third President,

B. J. Habibie Bacharuddin Jusuf Habibie (; 25 June 1936 – 11 September 2019) was an Indonesian engineer and politician who was the third president of Indonesia from 1998 to 1999. Less than three months after his inauguration as the seventh vice preside ...

, Usman served as Minister of Tourism, Arts and Culture (Men Parsenibud), from 1998-1999. In 1999 he was appointed Minister of State for Investment / Head of the Investment Coordinating Board ( BKPM ) and in 2001 Ministry of Forestry.

Current activities and responsibilities

* Founder of The Association for Human Rights Reporting Standards (FIHRRST) * Serves as Chairman of

Mazars Mazars is a global audit, accounting and consulting group employing more than 42,000 professionals in more than 90 countries through member firms. With head offices in France, Mazars has a network of correspondent partners and joint ventures in ...

advisory board Asia Pacific * President Commissaries of PT. Bekasi Fajar Industrial Estate, Tbk * President Commissaries of PTPN VI * Board of Commissaries of AIA Assurance * Board of Commissaries of PT. Cahaya Pelangi Persada * President Commissaries of PT. Restorasi Habitat Orangutan Indonesia (RHOI) from 2010 * President Commissaries of PT. Citra Borneo Indah from August 2011 * Commissaries of PT. Cipaganti group, since October 2011 * Chairman of steering committee of ISEA (Indonesian Senior Executive Association) * Chairman of ECAII (Economic Association of Indonesia and India) * Advisory board member of DISC (Duke University Islamic Study Center) * Deputy Chairman of PT Lippo E-Net, Tbk * Deputy of Steering Committee for IPMI ( Indonesian Management Development Institute) * 2013 Co-Founder Mentor MicroBank Foundation to encourage Indonesians to improve personal finances to start or improve business investments.

Mentor MicroBank Foundation

On November 12, 2013, Usman co-founded the Bali-based Mentor MicroBank Foundation which aims to further the economic prosperity of Indonesians who wish to start or improve small businesses. Mentor MicroBank Foundation differs to usual micro lending schemes in that it provides pre and post grant

mentoring Mentorship is the influence, guidance, or direction given by a mentor. A mentor is someone who teaches or gives help and advice to a less experienced and often younger person. In an organizational setting, a mentor influences the personal and p ...

and

oversight Oversight may refer to: Governance *Regulation – rulemaking *Separation of powers in state governance (checks and balances) - the concept of separate branches of government or agencies exercising authority over one another *Checks and control ...

from experienced and successful business people.

FIHRRST

Usman is one of the founders of The Association for Human Rights Reporting Standards, an international association dedicated to the respect, protection and fulfilment of human rights. The organization, which was co-founded by a group of human rights advocates including

Marzuki Darusman Marzuki Darusman (born 26 January 1945) is an Indonesian lawyer and human rights campaigner. After fifteen years as a member of the People's Representative Council with President Suharto's Golkar party, he served the country's prosecutor gene ...

, H.S. Dillon, Makarim Wibisono, James Kallman, Dradjad Hari Wibowo, develops and promotes standards by which adherence to human rights principles can be demonstrated.

References

External links

Personal blog

Marzuki Usman Profile on BusinessWeek.com

Marzuki Usman Profile on TheJakartaPost.com

Profile on Merdeka.com (in Indonesian)

The Association for Human Rights Reporting Standards (FIHRRST)

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{{DEFAULTSORT:Usman, Marzuki 1943 births Living people Duke University alumni