IPB University Launches Alumni Series Waqf Deposit Program with BSI, Helping Student Education Costs

On Sunday, (26/11), the Business, Investment, and Waqf Management Agency (BP Biswaf) of IPB University, together with PT Bank Syariah Indonesia (BSI) and the Central Management Board of the Alumni Association (DPP HA), launched the alumni series waqf deposit program.

The launch took place during the Grand Reunion Night for the 60th Anniversary of IPB University at the Sentul International Convention Center (SICC), Bogor (26/11). The alumni series waqf deposit program is named Nazhir IPB-BSI-01-Alumni IPB.

The Nazhir IPB-BSI-01-Alumni IPB waqf deposit is a temporary cash waqf program through the cash waqf linked deposit (CWLD) scheme. The program is aimed at assisting in covering the education costs of IPB University students to prevent dropouts due to financial constraints.

“The Nazhir IPB-BSI-01-Alumni IPB waqf deposit program is the first social Islamic financial innovation in Indonesia with the CWLD concept, and the offering period is from November 25, 2023, to January 26, 2024,” said Dr Naufal Mahfudz, Chair of BP Biswaf IPB University.

Some benefits of the Nazhir IPB-BSI-01-Alumni IPB program include its short duration, lasting only one year. Another benefit is the full return of the principal amount, managed by credible and trustworthy nazhir (BP Biswaf). Additionally, the profit-sharing ratio will be channeled to scholarship programs for IPB University students.

The target for collecting waqf funds is set at Rp 100,000,000,000, with the goal of benefiting 500 IPB University students. During the 60th Anniversary Grand Reunion of IPB University, which has been ongoing since Saturday (25/11), the total committed waqf deposit amount has exceeded Rp 1 billion.

Dr Naufal explained that the collaboration between the BSI waqf deposit program and the Nazhir IPB-BSI-01-Alumni IPB series covers the marketing and distribution of waqf through BSI Waqf Deposit products. The results will be handed over to BP Biswaf as the nazhir, to be distributed to IPB University students as mauquf alaih (beneficiaries) in the form of scholarships.

“Waqf deposits are an excellent scheme to be developed in the national waqf system. We invite all IPB University alumni to participate in the Nazhir IPB-BSI-01-Alumni IPB waqf deposit scheme,” he concluded. (*/Rz) (IAAS/Hap)