About Us

Starting from this cooperation, InterCAFE is now become a nationally and internationally recognized institution. Currently, InterCAFE and its staff are cooperating with researchers from many institutions, not only from Indonesia but also from other countries. In the future, InterCAFE is expected to evolve as a leading research center internationally focusing on social finance, monetary economics and Islamic finance. InterCAFE has a core competence in advanced and applied research in finance and economics with particular interest on issues relating to Indonesia as well as developing countries.

There are four main activities conducted by InterCAFE, Research and consultancy, Training, and Publication. The Research coverage are including Monetary Economics, Banking and Finance, International Finance, Development Macroeconomics, Micro Finance, Islamic Economic and Finance Agricultural and Resource Economics, Poverty, Environmental Economics, Regional, Economics, Trade and Industry, Institutional Development, Risk Management.

Since its establishment, InterCAFE actively run international cooperation with different institutions such as; University of Adelaide (Australia), Gottingen University (Germany), The Asia Foundation, Sydney University(Australia), Australian National University, Wuppertal University (Germany), Potsdam University (Germany), Chulalongkorn University (Thailand), Fudan University (Shanghai – China), ACIAR (Australia), CIFOR, FAO, IFPRI, IFC, ILRI, IFAD, AusAID, NREL-MCC, and SEADI-USAID.

With respect to training and consultation, until now InterCAFE has collaboration with National institutions such as; Bank Indonesia, PT Bank Lippo, Tbk, PT Bank Mandiri, Tbk., PT Bank Rakyat Indonesia, Tbk., Ministry of Industry RI, Ministry of Trade RI, Ministry of Agriculture RI, Ministry of Public Housing, BAPPENAS, Local Government of Purwakarta, Cirebon and Mahakam Ulu Districts, PT Bank Danamon, Sarana Multigrya Finance, PT Gunung Bara Utama, National Public Procurement Agency, PT Goodyear Indonesia Forum Foundation and Indonesia Economist Association.


A leading research center in applied finance and economics which producing high quality of research equivalent to those in the leading universities in the world.


1. To conduct research in applied finance and economics focused on cases from developing countries (emerging markets).

2. To develop frontier economics and applied finance models as part of global attempt for advancing economic and social sciences.


1. To conduct applied research in the area of economic and finance, relevant for the advancement of the Indonesian economy and developing economies as well.

2. To develop databases on economic and finance in order to facilitate quantitative-applied research.

3. To provide policy recommendations based on sound and reliable empirical studies in order to improve policy design.

4. To develop models and quantitative analytical tools that is relevant for understanding problems and for enhancing economic policymaking process.

5. To improve Indonesia’s research quality to meet international standard.

6. To promote Indonesia’s economist research to be published at the internationally recognized journals.

7. To provide a favorable research environment that gives motivation foreign researchers to conduct research in Indonesia.

8. To bridge collaboration between Indonesia’s economists and top world economist through conducting joint research and publications.

9. To improve the knowledge amongst young Indonesian-economist through better and faster transfer of knowledge from world-class economists.

Core Competence

InterCAFE has a core competence in advanced and applied research in finance and economics with particular interest on issues relating to Indonesia as well as developing countries. The center is now in the frontier of applied banking economics, economic modelling, and social and Islamic finance.  

Organization Structure

International Board

Prof. Anis Chodhury

Prof. Christoper Findlay

Prof. Stephan Klasen

Dr. Reza Y. Siregar

Senior Fellows

Prof. Bustanul Arifin

Dr. Iman Sugema

Management Board

Director : Dr. Tanti Novianti, S.P, M.Si

Executive Secretary : Dr. Syamsul Hidayat Pasaribu, S.E, M.Si

Program Manager : Triana Anggraenie, SP, MSc

Logistic Manager : Nuning Kusumowardani, SPt, MSi

Treasury and Finance : Ir. Dyah Rukmitasari

Program Division (Head of)

Development Macroeconomics   : Prof. Hermanto Siregar

Regional Economics   : Prof. Hermanto Siregar

International Trade    : Prof. Rina Oktaviani

Econometrics, Finance and Risk Management : Prof. Noer Azam Achsani

Monetary Economics   : Dr. Iman Sugema

Islamic Economics and Finance   : Dr. Iman Sugema

Agriculture and Resources   : Dr. Dedi Budiman Hakim

Microfinance and Poverty Analysis   : Dr. Nunung Nuryartono

Environmental Economics   : Dr. Yusman Syaukat

Statistics and Mathematics   : Dr. Toni Bakhtiar

Institutional Economics   : Dr. Parulian Hutagaol

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