KB Bank Syariah Distributes Waqf Benefits for Education

KB Bank Syariah is channeling the benefits of its Cash Waqf Linked Deposit (CWLD) Series 004 to support educational initiatives in Tangerang Selatan, Indonesia.

The initiative provides subsidies for the salaries of teachers at TK/KB Aisyiyah and PKBM Surya Bangsa. In addition to supporting educators, the program also marks the groundbreaking for the construction of a new school building for KB/TK Aisyiyah Pondok Cabe Ilir.

Santi Aji Yuniasih, Director of Business at KB Bank Syariah, described CWLD as a Sharia social finance instrument that bridges banking activities with community needs, especially in education. She stated that CWLD Series 004 aims to deliver tangible and sustainable benefits, particularly for the education sector, by supporting teacher welfare and improving educational facilities.

The CWLD scheme involves placing waqf funds in Sharia banking instruments, with the generated benefits allocated to designated social programs. The principal amount remains managed according to Sharia principles. This productive waqf utilization supports educators and aims to enhance human resource quality and prepare future generations.