JAKARTA — In an effort to encourage the growth of Islamic economics and improve the welfare of the community, CIMB Niaga Syariah and Dompet Dhuafa collaboratively held ‘Waqf Talk: Your Money, Your Way’. The event, which took place on Saturday (31/08/2024) at CIMB Niaga Pondok Indah Icon, South Jakarta, aimed to introduce Sukuk Wakaf as a unique Islamic investment instrument, combining financial returns with sustainable social contributions.
Sukuk Wakaf, as an Islamic investment instrument, offers double value for investors. In addition to the potential for competitive financial returns, investors also get uninterrupted jariah rewards as the invested funds will be used to fund various social projects that benefit the wider community. These projects can include the construction of mosques, schools, hospitals, and other community empowerment programmes.
The Waqf Talk event brought together experts in the fields of Islamic finance, philanthropy and personal development. The speakers were present to share their knowledge and experience about the Waqf Sukuk. Starting from the basic concept, working mechanism, to the benefits for investors and society. In addition, the workshop ‘Mindful Wealth: Merging Financial Growth with the Spirit of Giving’ provided practical guidance for participants in managing finances wisely and orientated towards good values.
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Bung Aldilla, Head of Sharia Consumer CIMB Niaga Syariah, in his speech said that Sukuk Wakaf is a concrete manifestation of the implementation of Islamic finance that not only provides economic benefits, but also has a positive social impact. She invited the public to invest in Sukuk Wakaf and contribute to sustainable social development.
‘CWLS is the right way to invest and do good deeds by endowing money. Because the returns will be used for social causes. Meanwhile, the principal will still remain and return to the waqif,’ said Aldilla.
For example, recently, in July 2024, two series of Retail CWLS, namely CWLS SWR002 and SWR003 have been successfully implemented in the form of one ambulance car and 10 motorbikes as da’wah vehicles in remote areas. The ambulance car is now being used by the Hasyim Asy’ari Dompet Dhuafa Hospital in Jombang, East Java. While 10 units of two-wheeled motorbikes are currently used by Dompet Dhuafa preachers in remote areas as a means of da’wah transportation.
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Following that, Ali Bastoni, GM of Waqf Collection and Literacy of Dompet Dhuafa, explained that Dompet Dhuafa as a waqf nazir, is committed to continue developing waqf instruments to be more innovative. In addition, the waqf funds channelled to Dompet Dhuafa will be managed as well as possible, so that the benefits will continue to be sustainable.
‘I think sukuk waqf is very suitable for us, people who are just starting to learn to invest but still want to do charity. In addition, the investment value is not high, starting from just Rp1 million. People can do waqf or philanthropic activities without losing their money,’ he explained.
So, for young people in productive age who are in the mood to save, this instrument can be one of the considerations in terms of managing finances. A Certified Financial Planner, Dewi R.D. Amelia, in her session, said that CWLS Retail has become part of her way of managing family finances. For Dewi, planning finances or life needs, must consider 3 things. Namely spending for today’s needs, for later, and later. These three must be balanced wisely.
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‘When we plan our financial management, we have to think about the benefits of this world and also the hereafter. It has to be beyond that. Money can be taken to death. Luckily, there is now a financial instrument that does not require us to lose the money we have, but the money is useful and the benefits are sustainable,’ said Dewi.
How to Invest in Waqf Sukuk
Dewi said that everyone must have financial planning in their lives. The difference is, there are those who plan well and optimally, but there are also those who do not. For example, a married couple usually calculates and starts collecting money for the child’s school. While the child enters school still two or three years in the future. Instead of just saving the money, it would be wise to use the money first to buy CWLS at CIMB Niaga Syariah. Within the next two years, the full amount (100%) will be returned to the waqif. Meanwhile, the waqf returns are managed by Dompet Dhuafa for social benefits.
Concretely, potential investors can take the following steps:
Registration
- Prospective Individual Wakifs create SID and Securities Accounts and register for E-SBN at Internet Banking / Mobile Banking Midis * (CIMB Niaga Syariah) Octo Mobile Internet Banking CIMB Niaga.
- rospective Wakif gets a notification of being registered on E-SBN from Distribution Partner (CIMB Niaga Syariah).
Booking
- Prospective Wakifs who have registered with ESBN place an order for SWR005 after reading the provisions in the info memo and agreeing to the Waqf Pledge Deed.
Payment
- Prospective Wakif gets a verified order notification and order code via email.
- Prospective Wakif pays through various payment channels with a predetermined time limit.
Completed Order
– Wakif gets a notification of completed order and gets:
- NTPN code (State Revenue Transaction Number)
- Cash Waqf Certificate via email after Settlement Date
Two years later, the principal paid will return to the wakif. Meanwhile, the profits of SWR005 will be managed by Dompet Dhuafa for the construction programme of the Green Lido Tahfidz Islamic Boarding School in Sukabumi and the procurement of medical equipment for AKA Sribhawono Hospital in East Lampung. (Dompet Dhuafa)
Text and photo: Riza Muthohar
Editor: Dhika Prabowo