JAKARTA — Dompet Dhuafa held a Waqf Talk entitled Business Blessings Abundant Cuan at the Halal Fair 2024, at Balai Kartini, Jakarta, on Saturday (10/8/2024). This event was one of Dompet Dhuafa’s ways to introduce Cash Waqf Linked Sukuk (CWLS), a cash waqf investment in state sukuk, an innovative Islamic investment instrument that combines financial returns with sustainable social contributions.
Waqf sukuk offer the opportunity to earn profits while supporting charitable and social causes through effective management of waqf assets. Waqf has great potential as a form of social worship that can be the best investment for Muslims. Dompet Dhuafa as a waqf nadzir (the party that receives waqf assets from the waqif to be managed and developed in accordance with its designation) always strives to provide the best waqf management and services for the community.
As is known, Indonesia has a Muslim population of around 238 million. However, public participation in waqf is still relatively low. Based on data from the Ministry of Religious Affairs of the Republic of Indonesia, the potential of waqf in Indonesia reaches Rp180 trillion per year, but the realization has only reached Rp2.3 trillion.
At the event, Dompet Dhuafa explained that in the waqf business model, waqf assets are managed professionally to ensure the growth and maintenance of the asset value. The income generated from this asset management is used to fund social programs or humanitarian projects. The waqf business model often involves collaboration between waqf institutions and the private sector such as CIMB Syariah Bank’s Islamic sukuk that funds state infrastructure to finance social programs and economic empowerment of the ummah. This program combines the concept of waqf with sharia-compliant investments.
Read also: Synthesizing Waqf and Investment
“Now this CWLS, Dompet Dhuafa invites the people of Indonesia, especially at the Halal Fair, to be able to contribute as an investor in worship in the sense of waqf, so they can give waqf through Dompet Dhuafa in the CWLS product at its LKS PWU, namely CIMB Niaga Syariah bank, therefore here we can both invest and worship with Dompet Dhuafa, hopefully with all of that we can contribute to the infrastructure development of the Republic of Indonesia,” said Imam Al Faruq, Senior Officer of Waqf Literacy and Fundraising Dompet Dhuafa.
Meanwhile, the blessing of waqf lies in its lasting nature; the assets donated not only provide direct benefits but also generate sustainable rewards that continue to flow as long as the assets are used. This is in accordance with Islamic teachings that emphasize that charity is one way to obtain uninterrupted rewards even after one dies.
Read also: Straightening the Waqf Paradigm
Waqf can add profit or money through the waqf sukuk instrument. The income from sukuk waqf is derived from the investment returns made with these assets. The profits earned from these investments are used to fund social or charitable programs that are in line with the objectives of the waqf. These projects can include the construction of mosques, schools, hospitals, and other community empowerment programs.
Through cooperation with CIMB Niaga Syariah, we have managed to obtain surplus waqf sukuk in the form of ambulance units and da’wah vehicles. Two series of CWLS Retail, namely CWLS SWR002 and SWR003 were successfully implemented in the form of one ambulance and 10 motorcycles as da’wah vehicles in remote areas. The handover ceremony of these vehicles took place at the Dompet Dhuafa Philanthropy Building, South Jakarta, on Thursday (07/11/2024).
The ambulance unit will then roll out and be placed at Hasyim Asy’ari Dompet Dhuafa Hospital in Jombang, East Java. Meanwhile, 10 units of two-wheeled motor vehicles have been placed in the Dompet Dhuafa da’wah program areas. Among them are Aceh, North Sumatra, Riau, East Kalimantan, Central Kalimantan, Banten, West Java, Central Java, Yogyakarta, and South Sulawesi.
The collaboration between Dompet Dhuafa and CIMB Niaga Syariah is not only in the 2 CWLS series above, but there are five series. Namely CWLS SWR001 to SWR005 which are scheduled to be launched in the second half of 2024.
Also present in the discussion was Ricky Harun as Super Volunteer Dompet Dhuafa. Kirun, as he is called, also invites all levels of society to endow, he believes that every kindness given will be replaced with something greater.
“Today there are so many programs initiated by Dompet Dhuafa, one of which is the waqf program, if we give something, InsyaAllah we will be given more in this world and in the hereafter. So I would like to invite all my friends to do waqf with Dompet Dhuafa,” said Ricky Harun.
Read also: The Government Intensively Invites Sukuk Waqf, What Is Sukuk Waqf?
Ricky Harun also gave tips on how to run a business but still get blessings.
“There are many businesses or things that we like but not necessarily Allah likes, the good thing is that we look for something that Allah likes and even more exciting is that Allah likes it, we like it,” he concluded.
In addition to providing waqf literacy, Dompet Dhuafa also set up a booth with the Free Health Service (LKC) which offered free medical check-up facilities for visitors. (Dompet Dhuafa)
Text and photo: Anndini Dwi Putri
Editor: Dhika Prabowo