Wakaf iB Barokah

This is a Waqf service managed by Bank Jatim Sharia, designed to facilitate customers in conducting Waqf transactions with various Waqf project options from trusted Nazhir (Waqf managers) registered with the Indonesian Waqf Board (BWI).

  • Types of Cash Waqf
    • Waqf is a legal act by a Waqif (endower) to separate and/or surrender a portion of their assets to be utilized forever or for a specific period in accordance with their interests for the purpose of worship and/or public welfare according to Sharia (Article 1 paragraph 1 of Law No. 41 of 2004 concerning Waqf). In line with Government Regulation No. 42/2006 and BWI Regulation No. 1/2020, cash Waqf can be permanent or temporary.
    • Permanent Cash Waqf
      • The surrender of cash Waqf by a Waqif to be utilized forever by the Nazhir.
      • The Nazhir may place the cash Waqf outside of Sharia Financial Institutions (LKS-PWU).
    • Temporary Cash Waqf
      • The surrender of cash Waqf to be utilized for a specific period, with a minimum of 1 year and a minimum amount of 1 million IDR.
      • Temporary Waqf must be placed by the Nazhir in a Sharia Financial Institution (LKS-PWU) (Article 48 of Government Regulation No. 42 of 2006 concerning the Implementation of the Waqf Law).
  • Benefits
    • Benefits for the Waqif
      • The return of temporary Waqf funds to the endower.
      • Waqf programs tailored to the Waqif's choice and emotional bond.
      • The realization of the Waqf program can be viewed or tracked directly by the Waqif.
      • A preferred means for individuals to perform Waqf together with their families.
    • Benefits for the Nazhir
      • An alternative method for cash Waqf collection.
      • A platform for collaboration with other Nazhirs in developing cash Waqf.
      • Accelerates the growth of Waqf assets.
      • Serves as a source of revenue for the Nazhir.
    • Benefits for the Bank
      • Safeguards the Sharia bank's reputation: integrating commercial and social functions.
      • Maintains bank income, safeguards capital, improves liquidity maturity, and increases Third-Party Funds (DPK).
      • Maintains asset quality in terms of performance and financing repayment sources.
      • Reaches a broader community that has not yet utilized Sharia banking services.
  • Programs
    • CWLD: Cash Waqf Linked Deposit (CWLD) is a temporary cash Waqf investment instrument in the form of a Mudharabah Mutlaqah deposit, where the investment returns are utilized directly for the Mauquf 'alaih (beneficiaries) through a CWLD program agreed upon by the Nazhir and the LKS-PWU.
    • CWLD Schemes:
      • CWLD Scheme Without Financing: A type of CWLD program where the deposit profit-sharing can be directly distributed to the beneficiaries because there is no need for asset procurement (e.g., scholarship programs or business capital for ultra-micro enterprises).
      • CWLD Scheme With Financing: A type of CWLD program that requires asset procurement (e.g., procurement of ambulances, building construction, or medical equipment).
  • Detailed Information
    • For more detailed information regarding CWLD, please access the link below:
    • CWLD Waqf Details

For requirements, further terms, or information regarding our products, please contact Info Bank Jatim at 14044 or visit the nearest Bank Jatim Sharia Branch Office.