Factors Influencing the Success of Retail Cash Waqf Linked Ṣukūk (CWLS) Issuance: A Lesson from Indonesia

In October 2020, the Indonesian government launched a Waqf-linked Islamic certificate called Cash Waqf Linked Ṣukūk (CWLS) that targeted retail investors. The CWLS SWR001 series for individuals is presented as a commitment by the government to support the national waqf movement and foster the development of social investment and productive waqf in Indonesia.