Dr. Sutan Emir Hidayat
What was your earliest ambition?
I wanted to be a diplomat from an early age. Results from my talent assessment test confirmed that my personality traits were well suited for a career as a diplomat. But, destiny had different plans for me. When I was in the third year of my bachelor degree at IPB University, I was appointed as a teaching assistant. This was the turning point in my life that would ultimately lead to my destiny. This exposure to academic life had undeniably ignited my interest and passion towards teaching.
What inspired you to be a part of the Islamic finance industry?
My first introduction to Islamic finance was an article written by Dr. Syafii Antonio published in Republika, a renowned local newspaper in Indonesia. When I shared the article with my mother, she was so entranced with it that she encouraged me to pursue my studies in Islamic finance. Upon finding out that Dr. Antonio had completed his master’s degree at IIUM, I applied for a place to study at the university. The university is indeed a melting pot in which students of various cultural backgrounds and personalities from all over the world came to study and explore knowledge together. My exposure to Islamic economics and finance truly opened my mind to the many great potentials that Indonesia has in Islamic economy, which remains relatively untapped. But I also realised that the lack of qualified talent is one of the biggest obstacles to the development of Islamic finance in the country. Motivated by these two facts, it became clear to me I wanted to be part of the Islamic finance industry.
Who has been your greatest mentor?
My parents have always been my greatest mentors. My late father taught me how to strive for success and give the best that I can give in anything and everything that I do. My mother constantly reminds me to fulfil my religious obligations. My parents’ prayers and blessings have always been very important to me. Till this day whenever I do anything, I seek my mother’s blessings first and asks her to pray for my success. I am still very much dependent on my mother for her advice and direction. My wife who is my partner in life, is also my greatest support. She is always there for me and advises me in many of my professional decisions.
What has been the greatest challenge in your professional life so far?
There are too many stakeholders in the Islamic economy sector in Indonesia with various interests, ways of thinking, and views. Hence, the biggest challenge is to harmonise their efforts in order to create synergies for a more prosperous and advanced Indonesia. For example, there is lack of standardisation of curriculum in Islamic economics in Indonesia where each university has their own unique curriculum. At National Islamic Finance Committee (KNKS) we are committed to developing a minimum standard in curriculum development across the country through collaborations with all relevant stakeholders.
What drives you in your personal and professional life?
Inspired by the Prophet’s sayings “The best of people are those that bring the most benefit to the rest of mankind”, I am always aspired to create synergies with others even in small ways. This motivation has driven me to be actively involved in various professional and social activities. When I was living and working in Bahrain, prior to my current job, I was actively sharing my knowledge and insights in Islamic finance in various platforms. I was also the founding vice president of the Bahrain-Indonesia Business and Friendship Society (BIBFS), which aims to strengthen the bilateral relationship between Indonesia and Bahrain.
What would you do if you didn’t have to work tomorrow?
Honestly, I pray that Allah the Almighty gives me the strength to continue working and sharing my knowledge with others until my dying days. This was the exemplary trait of my late father and my relative, the late Raja Zainal Abidin Bin Raja Tachik that I would like to emulate. Both of them worked and served others until the end. The late Raja Zainal Abidin was the secretary-general in the Ministry of Health Malaysia under the second prime minister Tun Abdul Razak. My late father, on the other hand, had dedicated his entire life to preserve the Minangkabau and Pagaruyung culture. In true testimony to his standing in the community, his funeral was attended by thousands of people and was even broadcasted on local TV stations.
What have you done that you are most proud of?
There are two important moments in my life that I am most proud of as a son. The first was when I was awarded my PhD in 2013. It was not only the proudest moment in my life but that of my family too. My entire family — my parents, parents-in-law, wife, and children; all attended my graduation ceremony. The second was when I was selected as the Director of Education and Research at KNKS amidst hundreds of qualified candidates. After the demise of my father in 2018, I wanted to go back home to Indonesia as my mother was living all by herself. Since I was living in Bahrain at that time, I was not able to take care of her. I was fortunate to be chosen to join KNKS as this provided me with the opportunity to return to Indonesia and be closer to my mother.
What has been your favourite book so far and why?
One of my most favourite books is “The Price of Inequality: How today’s divided society endangers our future” written by Joseph E. Stiglitz. Even though it is mostly written in an American context, the book is very interesting as it offers a comprehensive explanation of economic problems plaguing our society today. What I found fascinating is that many of the insights shared by Stigler were in line with the principles of Islamic economics. The book further drove home point that the solutions to the current economic problems lie with Islamic economics.
Describe yourself in three words? Confident, diplomatic and persistent. What is your greatest disappointment?
I was truly devastated when I was not able to lead the janazah prayer of my late father as I was in Bahrain when I received the news of his passing. I did not reach my hometown in Batusangkar, West Sumatra until some 24 hours later as there were no direct flights available. He was already buried by the time I arrived. This is my greatest disappointment as I had promised him that I would lead his janazah prayer after winning the janazah prayer competition when I was in elementary school.
