Jusuf Wibisono

Official portrait, c. 1954

Photograph of Wibisono, c. 1954

After the conclusion of the Indonesian National Revolution, Wibisono joined the Provisional People's Representative Council as a member of the Masyumi Party.[4] He was a critic of the Natsir Cabinet, despite Mohammad Natsir being in the same party. Wibisono instead was affiliated more closely to Soekiman Wirjosandjojo.[8] In March 1951, he even publicly urged the resignation of the Natsir cabinet, citing the failure to arrange a conference on Western New Guinea.[9][10] He was then appointed as minister of finance in Soekiman's cabinet, announced on 26 April 1951.[11] In his first press conference after being sworn in, Wibisono announced the nationalization of De Javasche Bank, the colonial central bank.[12][13] The nationalization process under Wibisono was voluntary – that is, shares were purchased at above market price – and Wibisono noted that he would not be immediately replacing foreign staff with Indonesian ones. By October 1951, the government had taken over 97 percent of the company's shares, and by December the bank was officially nationalized.[14] He later served in the bank's council of advisors in-between his ministerial tenures.[15]

Wibisono was noted for his relatively lax approach to finances compared to his predecessor Sjafruddin Prawiranegara. During his first tenure, which saw strong government finances from increased exports, he arranged for government-owned banks to loan money to politically affiliated firms, bonuses to civil servants, and less strictly controlled government budgets in general.[16][17] He was replaced by Sumitro Djojohadikusumo in the succeeding Wilopo Cabinet.[18] Between his first and second tenures, Wibisono worked at a Dutch car importer. He also accepted a job as a chairman of a Japanese bank, under the condition that his name not be listed on the bank's board register. He had engagements with Chinese Indonesian businesses.[19] In 1953, he was appointed chairman of the Union of Muslim Workers of Indonesia (SBII), the labor organization wing of Masyumi. He served at this post until 1966.[20] He made public statements calling for the increase of the work day (from seven hours to eight),[21] and was briefly examined by prosecutors after criticizing members of the First Ali Sastroamidjojo Cabinet.[22]

He made speeches denouncing communism and the Soviet Union,[23] and led a Masyumi opposition to establishment of diplomatic relations in 1953–1954.[24] In November 1954, he tabled a motion of no confidence against the Ali Cabinet,[25] in particular attacking the policies of Economic Minister Iskaq Tjokroadisurjo, perceived to be favoring the Indonesian National Party (PNI). Iskaq proceeded to resign, and the motion of no confidence was defeated.[26] He returned to his post as finance minister in the Second Ali Sastroamidjojo Cabinet.[27] Disbursements to politically afilliated businesses continued, and in one case in July 1956, Wibisono provided favors for a Nahdlatul Ulama-affiliated business to ensure Sjafruddin Prawiranegara's reappointment as governor of Bank Indonesia.[28] He also announced a reduction of 30 percent in the government headcount, to be implemented in stages, and the program was not executed during his tenure.[29] He resigned on 9 January 1957 and was replaced with Djuanda Kartawidjaja.[30] After the end of his ministerial tenure, he was arrested under corruption charges in April 1957, although he was released by March 1958 – officially for a lack of evidence.[31]

Wibisono looking at political books, c. 1954

Shortly before his release, in early 1958, Masyumi leaders including Natsir, Sjafruddin, and Burhanuddin Harahap became involved in the Revolutionary Government of the Republic of Indonesia, a shadow government contesting the Jakarta government. Wibisono himself was not involved, and once released wanted to condemn the actions of Natsir and others, but after discussions the party and its members elected to not issue any support or denouncements.[32] In the ensuing political shifts, the Indonesian Communist Party gained significant powers and Wibisono wanted Masyumi to work with the PNI and Christian parties in order to prevent the Communists from entering government. Wibisono was willing to give significant concessions such as increasing President Sukarno's power to do this, but he was sidelined and instead the party under the new leadership of Prawoto Mangkusasmito opted to form a united front with other Islamic parties.[33][34]

Masyumi was eventually dissolved in 1960,[35] and Wibisono joined the People's Representative Council of Mutual Assistance (DPR-GR) in 1960 under the umbrella of SBII, which had by then separated from Masyumi.[36][37] He cut ties with nearly all Masyumi leaders except Soekiman, but Wibisono was still arrested in late 1963 or early 1964 under conspiracy charges and was imprisoned for nearly three years without trial.[38] In mid-1966, Wibisono and other former Masyumi leaders were released from prison following the fall of Sukarno.[39] Alongside Soekiman, Wibisono considered establishing their own political party which would be founded on Islam but which "mustn't be too religious".[lower-alpha 1] However, both men decided against it after consulting with figures from the new regime. Instead, Wibisono joined the ranks of the Indonesian Islamic Union Party (PSII),[lower-alpha 2] but after the PSII's poor performance in the 1971 Indonesian legislative election, he opted to retire from politics.[34][40] He died on 15 June 1982 at Dr. Cipto Mangunkusumo Hospital in Jakarta.[41]