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 Sumatra () is one of the Sunda Islands of western Indonesia. It is the largest island that is fully within Indonesian territory, as well as the list of i ...

) 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 t ...

. 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 (; , Betawi language, Betawi: ''Jakartè''), officially the Special Capital Region of Jakarta (; ''DKI Jakarta'') and formerly known as Batavia, Dutch East Indies, Batavia until 1949, is the capital and largest city of Indonesia and ...

Stock Exchange and serves in several roles in a politically

non-partisan Nonpartisanship, also known as nonpartisanism, is a lack of affiliation with a political party and a lack of political bias. While an ''Oxford English Dictionary'' definition of ''partisan'' includes adherents of a party, cause, person, etc., ...

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 (; , abbreviated as UGM) is a public research university located in Sleman, Special Region of Yogyakarta, Indonesia. Officially founded on 19 December 1949, Gadjah Mada University is one of the oldest and largest institut ...

Yogyakarta Yogyakarta is the capital city of the 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 Hamengkubuwono, a monarchy, Yogyakarta is regarded as an importan ...

. 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 regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 1985 ...

), 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 ...

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 Bej or BEJ may refer to: * Bey, an Ottoman title * 13258 Bej, a minor planet * bej, ISO 639-3 code for the Beja language * Jakarta Stock Exchange () See also * BEJ48 BEJ48 (pronounced B.E.J. Sìshíbā, more often called B.E.J forty-eight) i ...

) 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 politician, engineer and scientist who served as the third president of Indonesia from 1998 to 1999. Less than three months after his inauguration as the seventh ...

, 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 Forvis Mazars is an international audit, accounting and consulting business formed in June 2024 by an agreement between Mazars and Forvis. Combined, the firms operate in the US and over 100 other countries, being among the top 10 global audit f ...

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 12 November 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 patronage, 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 perso ...

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 contro ...

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 who served as the Attorney General of Indonesia from 1999 to 2001. He currently serves as the chairman of an UN Human Rights Council mission on Myanmar ...

, 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