TAB Global confers the William “Bill” Seidman Lifetime Leadership Achievement Award on Muliaman Hadad, former chairman of the Financial Services Authority (OJK) of Indonesia and president commissioner of Bank Syariah Indonesia, recognising his longstanding contributions to financial supervision, ethical governance and inclusive growth in Indonesia. Hadad is widely credited for a distinguished career in financial supervision and regulation, marked by a strong commitment to financial stability, good governance and inclusive growth. His strategic vision and intellectual rigour have had a lasting impact on Indonesia’s financial landscape, modernising its regulatory framework, enhancing transparency and strengthening resilience. Regulatory reforms at OJK and Bank Indonesia Hadad led the establishment of the OJK and served as its inaugural chairman from 2012 to 2017. Under his leadership, the OJK developed a robust regulatory framework that balanced stringent oversight with financial innovation. This framework enhanced transparency, reduced systemic risks and strengthened consumer protection, contributing significantly to financial stability and boosting investor confidence. By integrating global best practices, he bolstered Indonesia's financial resilience and credibility on the international stage. His leadership also played a pivotal role in advancing the ASEAN Banking Integration Framework, harmonising banking practices across Southeast Asia and strengthening the region’s competitiveness. Before his tenure at OJK, Hadad had a 25-year career at Bank Indonesia marked by transformative regulatory frameworks and innovations that reinforced national financial stability. As deputy governor from 2006 to 2012, he played a key role in strengthening Indonesia’s financial resilience, particularly following the 2008 global financial crisis. His leadership in crisis management, risk mitigation and regulatory reform modernised banking supervision, reinforced stability and positioned Indonesia’s financial sector for growth. Championing financial inclusion and ethical governance Hadad consistently advocated for policies that expanded access to financial services for underserved communities. His commitment to financial literacy and accessibility enabled broader participation in the formal economy, narrowing Indonesia’s financial inclusion gap. Committed to good governance, he actively promoted transparency, accountability and social responsibility through his leadership in professional organisations. As chairman of Indonesia’s Sharia Economic Community (MES), he shaped policies for ethical and sustainable finance, integrating Sharia-compliant and conventional systems to foster a more inclusive economy. He also served as chairman of the Indonesia Economists Association (ISEI), where he contributed to national policy discourse and research supporting long-term economic strategies. Diplomatic engagement and international representation Hadad extended his influence beyond Indonesia through international engagements, notably as Indonesia’s ambassador to Switzerland and Liechtenstein from 2018 to 2023. In this role, he strengthened economic, trade and financial cooperation with European markets and led complex international negotiations. His diplomatic efforts enhanced Indonesia’s global financial ties and earned widespread respect, reinforcing his position as a multifaceted leader advancing the country’s international economic standing. Board leadership, corporate governance and thought leadership Hadad continues to shape the financial sector through board leadership, including as independent commissioner at Astra International and as president commissioner and concurrently independent commissioner at Bank Syariah Indonesia. He has leveraged his expertise in financial governance to guide strategy and growth. These roles highlight the high regard in which he is held by the business community and demonstrate his ability to bridge public policy with corporate governance, creating value across sectors. Additionally, his position as vice chairman of the supervisory board of Danantara, Indonesia's new sovereign wealth fund that consolidates and optimises government investments to support economic growth, further extends his impact and reinforces his reputation as a visionary leader driving institutional transformation and shaping Indonesia’s investment strategy. His expertise has been shared at international forums, particularly on financial regulatory frameworks and system stability. Beyond his professional duties, he has made significant contributions as a scholar and educator, shaping the next generation of economists and financial experts. Hadad’s commitment to financial stability, good governance and sustainable development has influenced regulatory practices, leaving a lasting impact on Indonesia’s financial policies and governance.
