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resident Susilo Bambang Yudhoyono has nominated Finance Minister Agus Martowardojo to become the new Bank Indonesia (BI) governor, replacing incumbent Darmin Nasution, according to a presidential special aide.

Yudhoyono talked with the relevant parties, including Vice President Boediono and Coordinating Economic Minister Hatta Rajasa, before concluding to propose Agus to the House of Representatives to be approved as BI governor until 2018, Yudhoyono’s special staffer for economic affairs Firmanzah said in a statement on Saturday.

“Agus has outstanding and extensive experience in the banking sector but also has an intense focus on the industrial sectors,” he said.

According to Firmanzah, Yudhoyono also believes Agus will be able to maintain and enhance relationships and coordination between BI and other related institutions such as the Financial Service Authority (OJK) and the Deposit Insurance Corporation (LPS).

“Agus already has good ties with international finance-related bodies, such as the World Bank and the International Monetary Fund [IMF],” said Firmanzah, formerly the dean of the University of Indonesia’s (UI) school of economics.

“Since Indonesia is a G-20 member, it is important to have a good ability to initiate and maintain international cooperation, particularly given the economic crisis that is still affecting some parts of the globe,” he said.

Firmanzah also praised Agus’ performance during the latter’s tenure as finance minister. “Our economic growth has been progressive because Agus has managed to protect us fiscally,” he said.

Emir Moeis, chairman of the House Commission XI overseeing finance, said that the government had eventually submitted Agus’ name as the sole BI governor candidate on Friday.

He acknowledged that he was “taken aback by the president’s decision” but said that Agus, with his reputation as both an accomplished banker and a reform-minded minister, fit the House’s criteria.

“He’s a well-experienced person for the job — since he has been a minister, he has matured a lot and developed himself in many aspects,” he said. “If it comes to my personal decision, I will say yes to him [becoming BI governor].”

Emir, however, said that he was wondering who would be appointed by Yudhoyono to replace Agus as finance minister, should the latter be approved to be the new central bank governor.

Emir will lead the team of lawmakers performing fit-and-proper tests on Agus.

Agus has an economics degree from UI and is the former president director of the state-run Bank Mandiri, currently the nation’s largest bank by assets.

The nomination of Agus came as a surprise to analysts, who had expected other candidates to be put forward, or the reelection of incumbent Darmin.

Darmin, whose term will end in May, has won praise for his “successes” in managing inflation and supporting economic growth during his tenure at the central bank. He was inaugurated as BI governor in 2009.