Strategy to Increase Waqf Intentions through CWLS for Institutional Waqif as an Effort to Optimize CWLS Fundraising

Abstract

The low intention of waqf through Cash Waqf Linked Sukuk (CWLS) has resulted in the collection of funds not meeting BWI's target. This has an impact on the not yet optimal realization of social programs. This research aims to realize an increase in waqf intentions through CWLS in institutional waqf, especially in Islamic banks in an effort to optimize CWLS fundraising. The method used is a qualitative method with a theme approach and Analytical Hierarchy Process (AHP)l. The informants of this research are the Indonesian Waqf Board, Islamic Banks, Nazir, and the government. The results of the research are for the theme approach, several aspects of waqf intentions are produced, namely knowledge, personal, environment, and motivation. In addition, the results of identifying several strategies that can increase intention are obtained. The AHP results show that the aspect that has the highest level of importance in increasing waqf intentions for institutional waqifs, especially the Islamic banking industry, is the knowledge aspect. The strategy cluster that has the highest level of influence to grow intentions is increasing potential through CSR leverage channels in Islamic Financial Institutions, namely the banking industry, insurance, and several other Islamic financial institutions for placement in CWLS products.