Cash Waqf Linked Sukuk (CWLS) Cash Waqf Linked Sukuk (CWLS) is a form of social investment in Indonesia where cash waqf collected by the Nazhir through Bank Muamalat Indonesia as the Islamic Financial Institution Receiving Cash Waqf (LKS-PWU) will be managed and placed in State Sukuk or SBSN (State Sharia Securities) instruments issued by the Ministry of Finance (Kemenkeu).

Retail CWLS is managed based on sharia principles, free from elements of riba (usury), gharar (uncertainty), and maysir (gambling), and has obtained a sharia compliance statement from the National Sharia Council – Indonesian Ulema Council (DSN-MUI).

The returns or coupons from cash waqf placed in CWLS will be distributed to the Mauquf 'Alaih according to the program of the Nazhir Partner.

Purpose of Issuing Retail CWLS:

1. Facilitate public to perform cash waqf more easily and safely.
2. Support the development of the sharia financial market, especially cash waqf.
3. Part of efforts to develop and innovate in the field of Islamic finance and social investment in Indonesia.
4. Encourage diversification of Islamic banking business, through optimizing the role of LKS PWU.
5. Encourage the development of the national waqf ecosystem, especially strengthening national waqf governance and institutions.
6. Provide alternative investment instruments for managing cash waqf for Nazhir.

Advantages of Retail CWLS:

1. Safe and risk-free instrument
2. Facilitate cash waqf donors to participate in productive programs/activities.
3. With a minimum of IDR 1 million, you can contribute to the development of the social sector in Indonesia.
4. Funds will return 100% at maturity

5. Support the transparent and accountable management and utilization of cash waqf funds.

How to Invest:

Online (For Individual waqif and temporary waqf)

1. Customers register for internet banking via Bank Muamalat ATM and activate financial transactions in internet banking at the branch through customer service.
2. Create SID (Single Investor Identification) and securities account via Bank Muamalat Internet Banking (for those who don’t have one yet).
3. Register for eSBN in internet banking.
4. Prospective waqif places an order via Bank Muamalat Internet Banking after reading the terms in the info memo.
5. Payment is made through Bank Muamalat Internet Banking within the specified deadline.
6. Receive proof of ownership via registered email after the settlement/issuance date.

Offline (For non- individual waqif or individual waqif with permanent waqf)

1. Prospective investor visits Bank Muamalat Branch Office to create SID and securities account.
2. Prepare documents: copy of NPWP and Company Establishment Deed.
3. Fill out waqf form, waqf pledge deed form, and standing instruction if doing permanent waqf
4. After documents and forms are checked by bank staff, you will receive a copy of the Waqf Pledge Deed.
5. The CWLS purchase process is complete; you will receive the CWLS Ownership Certificate after the settlement/issuance date.

CWLS SWR006 is currently in the offering period with the following product characteristics:

Frequently Asked Questions related CWLS SWR005 product can downloaded here