University of Syiah Kuala (Unsyiah) awarded Doctor Honoris Causa (Dr HC) to Adnan Ganto at AAC Dayan Dawood Building, Banda Aceh, Tuesday (1/9). The awarding of this honorary degree is the fourth time conducted by Syiah Kuala University. The first was awarded for Dr. H. Mahathir Muhammad, the former Prime Malaysia Minister, then the second for Dr. H. Susilo Bambang Yodhoyono, former president of Republic Indonesia, and the third for Drs. H. Muhammad Jusuf Kalla, Vice President of Indonesia.
According to Rector Unsyiah, Prof. Dr. Ir. Samsul Rizal, M.Eng, the giving of Dr. HC to Adnan Ganto is considered by his contribution to Aceh. Adnan has a significant role in fostering the establishment of the economic and banking system in Aceh. One of them is transformation process of Aceh Development Bank from conventional bank to Syariah based bank. Adnan is also considered not only to assist in economic and banking, but also in education, social, politics and culture. Rector assessed many universities in Aceh who felt the contribution of Adnan Ganto, including Syiah Kuala University.
In addition, Adnan is known as a rare figure for being able to occupy the position of director and commissioner in a leading bank in the United States which is Morgan Bank. His position according to the Rector is a very prestigious position for an Asian, especially for the Acehnese. The next scarcity when Adnan was appointed advisor to the Ministry of Defense of the Republic Indonesia continued seven times in a row. This made Adnan a witness in important political events in the ea of Orde Baru and Reformasi. His decades of experience in the banking world, both in Indonesia, Asia Pacific, Europe, and America, greatly influenced his role in efficiently managing the financial package and government budgeting procedures, in relation to the support systems required by the Indonesian armed forces.
"He was forged and educated in various dilemmas so dare to take important decisions that are sometimes not so popular for some people," said Rector.
Meanwhile, in his scientific oration Adnan Ganto conveyed about the 2008 Global Financial Crisis and its Impact on Indonesia's Economic Growth. In his presentation he mentions the 2008 global financial crisis started from the Housing Credit Crisis in the United States which caused some Banks in the United States to experience liquidation. The crisis then spread to the Global Financial Crisis and had a negative impact for Indonesia. As a result of the continuing volatile global economy due to the debt crisis, Adnan hopes Indonesia needs to control foreign loans measurably. Increasing foreign debt, according to him, could be a threat in the future, especially when the rupiah weakened against US Dollar.
To that end, he hopes in 2018, Indonesia can accelerate economic growth, although predicted to be full of challenges. Adnan said there are three economic challenges that Indonesia will face this year, namely the slowdown in public consumption, the weakening of global commodity prices, and the global financial market turmoil.
Indonesia needs to prioritize the construction of massive strategic infra-structural projects. Because infrastructure development is capital intensive, it will provide a labor-intensive effect to absorb new jobs. Infrastructure development can also increase economic activity in the real sector. This will have a positive effect on the increase in public consumption spending that can support the growth of Indonesia's Gross Domestic Product (GDP).