Conference

Wednesday, September 2, 2015

Registration (and light breakfast)
MC: Ulric Erickson von Allmen, Division Chief, Monetary and Capital Markets Department, IMF

Introduction and Welcome Remarks
Agus D.W. Martowardojo, Governor, Bank Indonesia

Session 1 — Financing for Development
Initial Remarks — Christine Lagarde, Managing Director, IMF

Panelists

• Bambang Brodjonegoro, Minister of Finance, Indonesia

Bambang, who was born on October 3, 1966, received his bachelor’s degree majoring in Economic Development and Regional Economy from Faculty of Economics, Universitas Indonesia in 1990. He continued his master degree in University of Illinois at Urbana-Champaign, United States and graduated in 1995. In 1997, he earned his Ph.D from the same university.

He once became the guest lecturer in the Department of Urban and Regional Planning, University of Illinois at Urbana-Champaign, United States in November 2002. Then he served as the Dean of Faculty of Economics, Universitas Indonesia during 2005–2009 and Director General Islamic Research and Training Institute, Islamic Development Bank up to 2010. On January 21, 2011, he was inaugurated as the Acting Head of Fiscal Policy Office, Ministry of Finance. Starting on October 1, 2013, Bambang served as the Vice Minister of Finance II while still became the Professor of Economics of Faculty of Economics, Universitas Indonesia.

On October 27, 2014, President Joko Widodo inaugurated Bambang P. S. Brodjonegoro as the Minister of Finance in his Working Cabinet for period 2014–2019.

• Urjit Patel, Deputy Governor, Reserve Bank of India

Urjit Patel is the Deputy Governor of the Reserve Bank of India. Born on October 28, 1963, Dr. Patel is a Ph.D. (Economics) from Yale University (1990) and M. Phil. from Oxford (1986).

Prior to joining the Reserve Bank, Dr. Patel was Advisor (Energy & Infrastructure), The Boston Consulting Group. He has been a nonresident Senior Fellow, The Brookings Institution since 2009. Dr. Patel was with International Monetary Fund (IMF) between 1990 and 1995 and worked on the U.S., India, Bahamas and Myanmar desks. Some of his previous assignments also include, President (Business Development), Reliance Industries Limited, Executive Director and Member of the Management Committee, Infrastructure Development Finance Company Limited (IDFC) (1997–2006), Member of the Integrated Energy Policy Committee of the Government of India (2004‒2006), and Member of the Board, Gujarat State Petroleum Corporation Limited. Between 2000 and 2004, Dr. Patel worked closely with several central and state government high level committees. Dr. Patel has authored technical publications, papers and comments in the areas of Indian macroeconomics, public finance, infrastructure, financial intermediation, international trade and the economics of climate change.

• Hiroshi Nakaso, Deputy Governor, Bank of Japan
    - Presentation

Hiroshi Nakaso has served as a Deputy Governor of the Bank of Japan since March 2013. In his 37 years at the Bank, his main responsibilities have been crisis management of financial systems and markets, especially on a global basis. He has participated in numerous international meetings, and during his terms as Director-General of the Financial Markets Department and Assistant Governor, he chaired the BIS Markets Committee and Working Group on Financial Reference Rates, and the G-20 Study Group on Commodities.

• Andrew Sheng, Distinguished Fellow, Asia Global Institute, University of Hong Kong

Andrew Sheng is well known in global financial circles as a former central banker and financial regulator in Asia and a commentator on global finance. He is the Chief Adviser to the China Banking Regulatory Commission, a Board Member of Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, a member of the international advisory council of the China Investment Corporation, the China Development Bank, China Securities Regulatory Commission and the Securities and Exchange Board of India. He is also an advisor to the United Nations Environment Program Inquiry into the Design of a Sustainable Financial System. He previously worked as Chairman of the Securities and Futures Commission of Hong Kong and a central banker with the Hong Kong Monetary Authority and Bank Negara Malaysia. He has published widely on monetary, economics and financial issues.

A chartered accountant by training, he has a BSc in Economics and an Honorary Doctorate from the University of Bristol.

Moderator

• Lin Xueling, Editor/Presenter, Channel NewsAsia

Lin Xueling is the presenter and producer of Channel NewsAsia’s premier current affairs interview show “Conversation with...” and the broadcaster’s retail investment show “Cents & Sensibilities.”

She is a veteran international journalist with more than 15 years of news and business reporting experience, writing for global publications such as The Wall Street Journal, The Financial Times and the Economist Intelligence Unit.

She moderated an IMF Annual Meetings seminar “Financing Asia’s New Growth Models” in 2014, and interviewed the Managing Director

Topics for discussion

• Possible turbulence from changes in global and regional financial environment and in global financial regulation
• Financial deepening, integration and financial stability
• Infrastructure investment: efficiency and resources mobilization
• Encouraging private sector participation
• Financial inclusion

Coffee Break

Book Launch: Future of Asia’s Finance (Check the book page)

Address

• Min Zhu, Deputy Managing Director, IMF (recorded video)

Mr. Min ZHU assumed the position of Deputy Managing Director on July 26, 2011. Previously he served as Special Advisor to the Managing Director of the International Monetary Fund from May 3, 2010 to July 25, 2011.

Mr. Zhu, a native of China, was a Deputy Governor of the People’s Bank of China. He was responsible for international affairs, policy research, and credit information. Prior to his service at China’s central bank, he held various positions at the Bank of China where he served as Group Executive Vice president, responsible for finance and treasury, risk management, internal control, legal and compliance, and strategy and research. Mr. Zhu also worked at the World Bank and taught economics at both Johns Hopkins University and Fudan University.

Mr. Zhu received a Ph.D and an M.A. in economics from Johns Hopkins University, an M.P.A. from the Woodrow Wilson School of Public and International Affairs at Princeton University, and a B.A. in economics from Fudan University.

Small panel

• Chikahisa Sumi, Assistant Director, Asia and Pacific Department, IMF
• James P. Walsh, Deputy Division Chief, Monetary and Capital Markets Department, IMF

Moderator:

• Douglas J. Elliott, Brookings Institution

Lunch

Session 2 — Mobilizing Resources for Development Presentation

• Kalpana Kochhar, Deputy Director, Asia and Pacific Department, IMF

Panelists

• Muliaman Hadad, Chairman of Financial Service Authority (OJK), Indonesia

Muliaman Darmansyah Hadad was appointed as Chairman of Board of Commissioners of the Financial Services Authority (OJK) of Indonesia in July, 2012. Previously he served as Deputy Governor at Bank Indonesia (BI), the country’s central bank, for two terms. He also held various senior positions within BI, including Director of Directorate for Banking Research and Regulation, and Head of Financial System Stability Bureau.

He holds a Ph.D. degree in business and economics from Monash University in Melbourne, Australia and MPA from John F. Kennedy School of Government of Harvard University. Muliaman is also active as Head of Indonesian Sharia Economic Community, Head (Executive) of Indonesian Association of Economists, a lecturer at several universities, and is in charge as Head of Alumni Association of Faculty of Economics University of Indonesia.

• Bambang Susantono, Vice President, Asian Development Bank

Bambang Susantono is the Vice-President for Knowledge Management and Sustainable Development of the Asian Development Bank (ADB). He assumed the position in July 2015 and is responsible for management of ADB’s Sustainable Development and Climate Change Department, Economic Research and Regional Cooperation Department, and Department of External Relations.

Prior to this, Mr. Susantono was the Vice-Minister of Indonesia’s Ministry of Transportation and Deputy Minister for Infrastructure and Regional Development. He also served as the President of Indonesia Intelligent Transport Society; Vice President of East Asia Society of Transportation Studies based in Tokyo, Japan; and a member of the Board of Trustee of the SouthSouthNorth Foundation in Johannesburg, South Africa. Mr. Susantono holds a PhD in Infrastructure Planning and Master’s degrees in Transportation Engineering, and City and Regional Planning from the University of California Berkeley.

• Jin-Yong Cai, CEO, International Finance Corporation (IFC)

Jin-Yong Cai is Executive Vice President and CEO of IFC, a member of the World Bank Group and the largest global development institution focused on private sector development.

Cai, a Chinese national, joined IFC on October 1, 2012. He has extensive experience in private sector development in emerging markets across the globe. Before joining IFC, Cai worked in the financial services industry for 20 years including 12 years with Goldman Sachs Group, where he was part of Goldman Sachs’ global leadership team and its top executive in China. Before that, he held senior positions in Morgan Stanley’s investment banking division.

Cai, who began his professional career in the World Bank Group in 1990, has a Ph.D. in economics from Boston University and a Bachelor of Science degree from Peking University.

• Jörg Zeuner, Chief Economist, KfW Bankengruppe, Germany

Jörg Zeuner took on the position of Chief Economist at KfW in September 2012. Having gained a Master of Science in Economics at the University of Glasgow, he then went on to complete a PhD in Economics at the University of Wurzburg. Alongside his PhD, he was able to gather international work experience at the Korean-German Chamber of Commerce and Industry, KfW and the World Bank in Ethiopia. Following this, he worked at the International Monetary Fund in Washington DC for almost 10 years, before becoming Chief Economist at VP Bank in Liechtenstein in 2008. Dr Zeuner also lectures at the University of St. Gallen (HSG) and the University of Bochum.

• Julius Caesar Parreñas, Chief Sherpa of Asia and Pacific Infrastructure Partnership (APIP), APEC Business Advisory Council (ABAC)

Julius Caesar Parreñas is Senior Advisor at Nomura Securities Co., Ltd and Nomura Institute of Capital Markets Research. He coordinates the Advisory Group on APEC Financial System Capacity Building, the Asia-Pacific Financial Forum (APFF) and the Asia-Pacific Infrastructure Partnership (APIP). He regularly represents the APEC Business Advisory Council (ABAC) in the APEC Finance Ministers’ Process. His previous positions include Advisor on International Affairs of the Bank of Tokyo-Mitsubishi UFJ, Ltd, Senior Advisory Fellow of the Institute for International Monetary Affairs in Tokyo, Senior Advisor to the Chairman of Chinatrust Financial Holding Co., Ltd, Policy Advocacy Coordinator of the Asian Bankers’ Association and alternate member of the APEC Business Advisory Council.

He received his Ph.D., magna cum laude, from the Ludwig Maximilian University in Munich, Germany in 1988. He has authored various books and written over 90 articles on international finance, economics and trade.

Moderator

• Desi Anwar, Metro TV, Indonesia

Desi Anwar is an Anchor and Correspondent for CNN Indonesia, a news network based in Jakarta. She hosts a talkshow program called Insight with Desi Anwar. Prior to that, Desi was a Senior Journalist and Anchor for Metro TV hosting various talkshows including Face to Face with Desi Anwar featuring prominent international newsmakers. Desi is also columnist for the daily English language newspaper, The Jakarta Globe.

Ms. Anwar holds a Master’s degree from the School of Oriental and African Studies, University of London, and a Bachelor’s degree from the European School University of Sussex.

Topics for discussion

• Asia’s financing needs to address its long run challenges
• Mobilizing domestic resources
• Mobilizing external resources

Coffee Break

Session 3 — Financial Deepening and Inclusion Presentation

• Ratna Sahay, Deputy Director, Monetary and Capital Markets Department, IMF

Panelists

• Agus D.W. Martowardojo, Governor, Bank Indonesia

Agus D.W. Martowardojo took office as the Governor of Bank Indonesia on May 24, 2013. Previously, he served as the Minister of Finance, the Republic of Indonesia, from May 2010 to April 2013. Before serving as the Minister of Finance, he held the position of CEO of Indonesia’s largest banks. In 2014, he was awarded the Bintang Mahaputera Adipradana medal, the nation’s second-highest civilian honor, for his contribution to the nation. He was born in the Netherlands in 1956. He graduated from the University of Indonesia in economics. He took special programs at the State University of New York, Harvard Business School, Stanford University, and Wharton Executive Education.

• William Oswald, Head of FICC research, Standard Chartered Bank

William Oswald is head of FICC Research, Standard Chartered Bank, Singapore. He oversees research and strategy globally for the FX, rates, credit and commodity markets. He is based in Singapore and joined the Bank in 2010. Since then, the team has received accolades including No. 1 EM FX Research for North American and European clients in the 2014 Euromoney FX poll, and No. 1 for European and US credit accounts in The Asset credit survey. He has run FX, rates and sovereign credit strategy across all three emerging-market regions (Asia, Latin America, and Central/Eastern Europe, Middle East and Africa). He also ran global EM quantitative strategy at J.P.Morgan, where he ranked first in the Institutional Investor European EM Strategy poll for five years. Prior to J.P.Morgan, he covered emerging and developed markets at Deutsche Bank in London, Singapore and New York. He holds a Master’s degree in philosophy, politics and economics from Oxford University.

• Kamal Quadir, Chief Executive Officer, bKash Limited

Kamal Quadir applies technology to allow people to advance economically, which in its wake bring about social progress. Currently, Kamal is the CEO of bKash, a leading mobile money service owned by BRAC Bank, Money in Motion, IFC and Gates Foundation, which offers millions of unbanked people access to financial services through basic cell phones in Bangladesh.

The initiatives he has worked on are interventional tools for the poor to access state-of-the-art technologies to leapfrog into some form of inclusivity, be that financial access or electronic marketplace.

Kamal is a founding member of Open World Initiatives, a Lausanne, Switzerland based organization of young thinkers. He is involved with Anwarul Quadir Foundation which recognizes innovations in developing countries. He received the Tech Award in 2007 for “Applying Technology to Benefit Humanity.” He is a First Mover Fellow of The Aspen Institute. In 2009 the World Economic Forum and TED have respectively selected him as a Young Global Leader and a TED Fellow. Kamal is an accomplished artist whose work is in the collection of Bangladesh National Museum.

He has a BA from Oberlin College and an MBA from the Sloan School of Management at MIT.

• Alok Prasad, former CEO of Microfinance Institutions Network (MFIN)

Alok Prasad is Principal advisor to board of an Indian private sector bank and is based out of Gurgaon. Besides, he consults an American boutique consulting firm in banking & finance space. He also serves on the board of MUDRA Bank of Government of India, in capacity of a financial inclusion expert.

Alok was the founder CEO of Microfinance Institutions Network (MFIN). A veteran banker with over thirty years of both public and private sector banking and financial services experience. He was formerly the Head – Strategy & Business Development at the Citi Consumer Group, and Country Director of Citi Microfinance Group (India). He also served on the Boards of Citi Financial Ltd and Citicorp Maruti Finance Ltd. Prior to joining Citi, Mr. Prasad had a distinguished career at the Reserve Bank of India. He was also a member of the start-up team of the National Housing Bank, a statutory body wholly owned by RBI, the Chairman of the South Asian Microfinance Network (SAMN) for the year 2014, and member of Core Group of Ministry of Finance (MoF), GoI for Micro-Units Development and Refinance Agency (MUDRA). An Industry thought leader in Financial Inclusion space, Mr. Prasad has extensively been covered and quoted on microfinance and financial inclusion matters by national/international media.

Moderator

• Sharanjit Leyl, Producer and Presenter, BBC World News

Sharanjit Leyl is a Singaporean producer and presenter for BBC World News. She regularly anchors Asia Business Report and Newsday from the BBC’s Singapore studio. She is also a reporter and producer on these shows along with World Business Report. Sharanjit Leyl joined BBC World News in September 2003 and has since reported and presented from places as far afield as Pakistan, Tokyo and London.

Her noteworthy interviews include heads of state ranging from Thailand, Pakistan, the Philippines, New Zealand, and East Timor, former prime ministers of Australia, Malaysia and Singapore, presidents of the World Bank and the IMF, and chief executives and chairpersons from various Fortune 500 companies ranging from Microsoft to Walmart.

Born in Singapore, Sharanjit moved to Washington DC in her teens with her family, where her father was a diplomat. There she earned a degree in both journalism and English literature from The University of Maryland College Park. She then moved to Vancouver, Canada where she completed a Masters degree in English literature at the University of British Columbia which focused on post-colonial writers such as Salman Rushdie.

Topics for discussion

• Growth, Stability, and Financial Deepening: Costs and Benefits
• Increasing Access to Finance
• Building a safe environment to maximize the benefits of financial deepening and financial inclusion

Closing Remarks
IMF and Indonesian Officials