NasDem Cadres Make a Breakthrough in Managing Cash Waqf by Purchasing Retail Sukuk – 2024-03-09 14:58:10

Illustration of managing wakah funds by purchasing retail sukuk. (Doc. Freepik)

A breakthrough was made by Member of the Agriculture, Livestock and Village Independence Sector of the NasDem DPP who is also the Trustee of the Doa Bangsa Education Development Foundation (LW Doa Bangsa), Ayep Zaki. One of the breakthroughs is through the purchase of retail sukuk in managing cash waqf.

On March 4 2024, LW Doa Bangsa began to enter the management and development stage starting with the purchase of Retail Sukuk SR018T3 with a coupon value of 6.25% pa, which will mature on March 10 2026.

This means that LW Doa Bangsa will receive a coupon every month as a return value which will be distributed to beneficiaries according to applicable laws and regulations. The waqf mandate for community and environmental economic empowerment is the main distribution target for LW Doa Bangsa.

“Managing cash waqf through the purchase of Sharia Bonds will have a very positive impact on LW Doa Bangsa’s participation portfolio in making the national development program a success,” said Ayep Zaki in his statement, Wednesday (6/3).

Management carried out in collaboration with Permata Bank Syariah. According to Ayep, money as Waqf Property donated by the muwakif (waqf) collected in Nazhir’s account, specifically at the Sharia Financial Institution that Recipients of Cash Waqf (LKS PWU), cannot be lost or inherited, and its use cannot be transferred.

“Money that has waqf status must last forever. For this reason, LW Doa Bangsa carries out management at this initial stage by purchasing sukuk which have a very small risk level,” he added.

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For this reason, he emphasized that LW Doa Bangsa is committed to continuing to safeguard the principal value of the Cash Waqf that has been collected based on applicable laws and regulations.

“Especially if we see that Waqf is a sunnah model of Islamic philanthropy as one of the pillars of the welfare of the people that must be developed,” he said.

(Z-9)