Cash Wakaf Link Sukuk (CWLS) is a cash waqf investment instrument in state sukuk that can be done online or offline. CWLS has several benefits, including making it easier for people to do cash waqf, supporting the development of Islamic financial markets, encouraging the diversification of Islamic banking businesses, encouraging the development of the national waqf ecosystem, and providing alternative investment instruments for cash waqf management.
The advancement of digital technology today allows for rapid transaction movements. The digital ecosystem with government policy tools is one of the drivers of this far-reaching process. Dompet Dhuafa as a waqf nazir, through the Waqf Investment Development Institute (LPIW), is making new breakthroughs in sharia funding patterns to provide easy services for beneficiaries around the managed waqf assets.
One of them is Achmad Wardi Eye Hospital in Serang City, which is the first waqf-based eye hospital in Asia. The financing pattern for the procurement of eye hospital assets and facilities is supported by CWLS profit sharing with LKSPWU of several Islamic banks. Ali Bastoni as GM of Literacy and Waqf Collection of LPIW Dompet Dhuafa, explained that in terms of CWLS, Dompet Dhuafa has been doing it since Sukuk Waqf Retail (SWR) Series 002 was released until SWR Series 005, where SWR Series 005 this year is still running to raise waqf money until October 9, 2024.
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Implementation of CWLS nazir in this case Dompet Dhuafa must collaborate with Sharia Financial Institutions Receiving Money Waqf (LKSPWU), namely CIMB Niaga Syariah. Periodically, the returns obtained in CWLS and implementation programs include:
- CWLS SWR Series 002 in 2021: IDR528,925,389. The proceeds are earmarked for educational programs, tuition assistance for poor students, family budding programs, SMART Ekselensia, and health programs for the procurement of medical equipment facilities at Hasyim Asy’ari Hospital.
- CWLS SWR Series 003 year 2022: Rp691,234,334. Social da’wah program, namely the procurement of da’wah vehicles for 10 Dai Pemberdaya and the realization of the medical equipment procurement program for AKA Medika Sribhawono Hospital.
- CWLS SWR Series 004 year 2023 (yield achievement as of August 2024): Rp399,182,218. The proceeds are earmarked for the educational scholarship program and education digitalization of Pesantren Tahfidz Green Lido, Sukabumi, which is currently under construction.
- CWLS SWR Series 005 year 2024: The principal of cash waqf raised is still running until October 9, 2024. The planned programs include boarding school for students and procurement of health ventilators.
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“Achmad Wardi Eye Hospital has retinal sub-specialist and glaucoma sub-specialist services, which for the benefit of the waqf program are currently equipped with modern retinal and glaucoma medical devices including OCT, Fotofundus, PRP, HFA, NDYAG, Poropter, which in the near future Achmad Wardi Eye Hospital will open an infection and immunology sub-specialist service which is also the only one in Banten, in addition to retinal and glaucoma sub-specialists,” explained dr. Pradipta Suarsyaf, MMRS, MPM, Dipl.BA, FRSPH, FISQua, FAAPM, SCL as the President Director of Achmad Wardi Eye Hospital.