Lukman Hakim was born in Tuban, East Java on 14 October 1914. His father, Abdoellah Koestoer, originated from Surakarta while his mother was from Tuban. Hakim received his early education in Tuban, Surakarta, and then Yogyakarta, before moving to Batavia. He obtained a law degree there by 1941. During his studies, he joined nationalist youth organizations such as Indonesia Muda, for which he chaired the Jakarta branch, and later the Indonesian Students' Association.[2][3]
In July 1947, Hakim was appointed as State Commissioner for Finances in Sumatra and moved there.[3] After Operation Kraai, he became Minister of Finance within Sjafruddin Prawiranegara's Emergency Government (PDRI). The Prawiranegara government encountered difficulties with a shortage of Republican currency in Sumatra's interior, and Hakim sent instructions to the Republican local government in Jambi to issue the currency.[5]: 59 In January 1949, Hakim himself led a group in Jambi to physically print Republican money in the town of Muara Bungo, his group carrying cliches of the currency and using converted conventional printing equipment there to print the money.[6] He continued to serve as finance minister for some time after the return of the Indonesian government to Yogyakarta (the Second Hatta Cabinet),[3][7] and served under the Susanto Cabinet and Halim Cabinet.[1]
By mid-1956, Hakim was deputy governor of Bank Indonesia, with Sjafruddin Prawiranegara serving as governor. With Prawiranegara (a Masyumi member) near the end of his term of office, the Indonesian National Party wanted to replace him with Hakim. Although Hakim and Prawiranegara were both close due to their time at PDRI, Hakim accepted the political nomination. Since the Nahdlatul Ulama backed Masyumi, however, Prawiranegara remained in his office.[8] Hakim later replaced Prawiranegara to serve as BI governor between 1958 and 1959.[9]
On 2 April 1961, Hakim was appointed as Indonesia's Ambassador to West Germany.[10] In 1961-1962, the Netherlands pressured the West German government to cease development aid to Indonesia due to the West New Guinea dispute. Following Hakim's lobbying, the West German government indicated its neutrality in the dispute, hence preserving the aid.[11] Hakim continued lobbying the West German government during the Indonesia–Malaysia Confrontation period.[12] He died on 20 August 1966 while still serving as ambassador in Bonn.[1]