Bank Syariah Mandiri Launches First Waqf-Linked Sukuk to Support Aceh Economic Development

Bank Syariah Mandiri (Mandiri Syariah or the Bank) has announced the launch of its inaugural Waqf-linked Sukuk, known as Cash Waqf Linked Sukuk (CWLS), confirming the Bank’s role as a Shariah financial institution to receive cash Waqf.

According to Anton Sukarna, Distribution and Sales Director of Mandiri Syariah, CWLS is the inaugural Waqf Sukuk programme for the Bank and the first collaboration with the Indonesian Ministry of Finance (MoF) in collecting and distributing cash Waqf to uplift Indonesia’s economy.

The Waqf Sukuk is an investment of permanent or temporary cash Waqf funds through state Sukuk that have been issued by the MoF, and as such, are deemed safe and...