Strengthening the Productive Waqf Ecosystem, Bank Jatim Sharia Unit Launches Cash Waqf Linked Deposit (CWLD) Series #02
Date: 26 january 2026Categories :
SURABAYA, January 26, 2026. The Sharia Business Unit (UUS) of Bank Jatim continues to strengthen its commitment to supporting the development of the sharia economy and sustainable social finance. This was realized through the launch of the Cash Waqf Linked Deposit (CWLD) Series #02 with a financing scheme on Monday (1/26).
Held at the Ballroom of Grand Swiss-Belhotel Surabaya, the event was attended by the President Director of Bank Jatim, Winardi Legowo, along with the Board of Directors, Executive Analyst of the Directorate of Sharia Banking Regulation and Development of the OJK, Gunawan Setiyo Utomo, and the Chairman of the Sharia Supervisory Board (DPS) of Bank Jatim, KH. Afifuddin Muhajir. The presence of the OJK reflects the regulator's support for sharia banking product innovation that continues to prioritize the principles of prudence and good governance.
The CWLD Series #02 program is the result of a strategic collaboration between the Bank Jatim Sharia Unit, Gerakan Wakaf Indonesia (GWI), and Rumah Wakaf Indonesia (RWI) as an effort to encourage the optimization of waqf funds to be more productive, sustainable, and provide a real economic and social impact for the community.
Winardi explained that the launch of CWLD Series #02 will further strengthen the productive waqf ecosystem in Indonesia. According to him, the CWLD Series #02 program is a form of sharia financial innovation that aligns with the agenda of strengthening the regional economy and financial inclusion. Through the financing scheme, the collected waqf funds are not merely stored but are managed productively to support sharia-based financing activities without reducing the principal value of the waqf.
“Through its Sharia Unit, Bank Jatim continues to strive to present products and services that are not only business-oriented but also possess strong social value. CWLD Series #02 is expected to become a modern waqf instrument that provides broad benefits to the community and supports sustainable economic development,” he explained.
During the event, Gerakan Wakaf Indonesia (GWI) and Rumah Wakaf Indonesia (RWI), as Nazhir (manager) partners of the Bank Jatim Sharia Unit, also explained the mechanism for collecting and utilizing CWLD Series #02 funds, which are focused on social programs and the productive economy to improve community welfare. The collaboration with these two Nazhirs involves the distribution of waqf funds for two main purposes.
First, CWLD Series #02 for the Cavendish Banana Cultivation Program in collaboration with the Nazhir Gerakan Wakaf Indonesia. Later, the collected waqf funds will be used for the development of a leading horticultural commodity that is high in nutritional value, has a good shelf life, and has great market demand potential both domestically and for export. “This is a tangible contribution from the Bank Jatim Sharia Unit in supporting the productive waqf model and empowering MSMEs around the cultivation sites through the processing and marketing of Cavendish banana derivative products,” he emphasized.
Furthermore, the other CWLD Series #02 collaboration is used for the Mobile CoffeeLab business capital economic assistance program in collaboration with the Nazhir Rumah Wakaf Indonesia. This collaboration will focus on developing micro-entrepreneurs based on the potential of coffee commodities. This is done to encourage East Java MSMEs to be more independent and empowered.
Winardi also explained that Cash Waqf Linked Deposit (CWLD) with a financing scheme is a type of CWLD that uses financing from a Sharia Financial Institution Receiving Cash Waqf (LKS-PWU) to realize the CWLD program prepared by the Nazhir in accordance with the Mini Prospectus at the beginning of the waqf period. This program is designed to integrate the social function with the commercial function of a sharia bank as an LKS-PWU. The mechanism of this product is similar to a standard deposit instrument. The yield from the deposit is then used to pay off the financing from the benefit value received by the Nazhir for social programs, economic empowerment, and the strengthening of MSMEs, while the waqf principal does not decrease.
Then, the bank will manage the deposit according to the time period and deposit agreement. Like other deposit products, after maturity, the cash waqf funds are returned to the Wakif (endower). What distinguishes it from general deposits is that the profit-sharing from the deposit will be distributed to the waqf beneficiaries (mauquf alaih) through the Nazhir who has become a partner of the LKS-PWU. This means that customers do not receive profit-sharing from the deposit, but rather receive a continuous flow of rewards (pahala) from the waqf that has been distributed.
”We are optimistic that CWLD Series #02 with a financing scheme can increase public participation in cash waqf, strengthen the national waqf ecosystem, and reinforce Bank Jatim’s role as a Regional Development Bank that actively drives inclusive and sustainable economic growth, through both conventional and sharia services,” concluded Winardi.
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