Lamongan – KB Bank Syariah (KBBS), in collaboration with the Waqf Utilization Council (Majelis Pendayagunaan Wakaf, MPW) of the Muhammadiyah Regional Leadership (Pimpinan Daerah Muhammadiyah, PDM) in East Java, has launched an ultra-micro entrepreneur empowerment program through the Cash Waqf Linked Deposit (CWLD) scheme. The launch ceremony was held in Lamongan on Tuesday, December 17, 2024.

The CWLD program aims to increase the revenue and profits of small business owners. Beneficiaries will receive financing facilities and mentorship for 12 months. MPW Muhammadiyah East Java, responsible for providing guidance, will focus on character development, mindset transformation, and skill enhancement for the entrepreneurs.

KBBS Head of Corporate Secretary, Umar Hasni, stated that the program is expected to help entrepreneurs maximize their potential for growth. “We hope this program will contribute to supporting MSMEs, especially in the Kertomenanggal area,” said Umar.

The CWLD product offering period started on November 1, 2024, and ended on December 1, 2024, with a fundraising target of IDR 260,000,000. By the end of the offering period, the target was successfully reached, with contributions from seven waqif (waqf donors) participating in the program.

CWLD is an innovative product initiated by the Financial Services Authority (OJK). Previously, KBBS collaborated with MPW of Muhammadiyah Central Leadership (Pengurus Pusat Muhammadiyah, PP) in the CWLD Series 001 program, where funds were allocated for goat and sheep fattening for communities in Grobogan Regency, Central Java.

“KBBS remains committed to developing CWLD products to enhance public literacy and education on waqf through cash waqf,” Umar added.