The Influence of Community Literacy on Interest in Waqf: The Mediating Role of Cash Waqf-Linked Deposits (CWLD)
Abstract
This study examines the influence of public literacy on interest in Cash Waqf Linked Deposit (CWLD), a contemporary cash waqf instrument, in Lhokseumawe, Indonesia. Using a quantitative, descriptive research design, the study involved 150 purposively selected respondents with prior experience in financial transactions and a basic understanding of Islamic philanthropy. Data were analyzed using Structural Equation Modeling (SEM). The findings reveal that public literacy has a positive and significant effect on both CWLD utilization and interest in waqf. Moreover, CWLD has a significant mediating role in the relationship between literacy and waqf interest. The results highlight that increased public knowledge and awareness can encourage broader participation in cash waqf schemes. The study concludes that public literacy and innovative waqf instruments such as CWLD play a pivotal role in strengthening Islamic philanthropic behavior. These findings imply the importance of strategic literacy campaigns and financial education to maximize the potential of waqf as a sustainable social-economic instrument in Muslim-majority communities.
References
Afandi, A., Harahap, D., & Lubis, M. (2022). Analisis Faktor-Faktor Yang Mempengaruhi Minat Wakif Dalam Berwakaf Pada Cash Waqf Linked Sukuk (CWLS) Dengan Altruisme Sebagai Variabel Moderasi. AL-AWQAF Jurnal Wakaf Dan Ekonomi Islam, 15(1), 50–66.
Fachmi, A., & Mansah, A. (2025). Analisis Cash Waqf Linked Sukuk (CWLS) di Badan Wakaf Indonesia (BWI): Pendekatan Maqashid Syariah Imam Asy-Syatibi. Media Riset Bisnis Manajemen Akuntansi, 1(3), 134–149. https://doi.org/10.71312/mrbima.v1i3.503
Hair, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106–121. https://doi.org/10.1108/EBR-10-2013-0128
Hakiem, H., Beik, I. S., & Fahmi, I. (2022). Faktor-Faktor yang Memengaruhi Minat Masyarakat Berwakaf Uang/Melalui Uang dalam Mendukung Pembangunan Berkelanjutan Kota Bogor. Al-Muzara’Ah, 10(2), 155–168. https://doi.org/10.29244/jam.10.2.155-168
Jannah, R., & Malahayatie. (2025). Integration of Imam Al- Syathibi’s Maqāṣid al-Syarī‘ah Concept in the Development of a Fair Islamic Economic Strategy. Jurnal Bisnis Dan Kajian Strategi Manajemen, 9(2), 177–187.
Faaza, H. K., Haris, M., Hamzah, M. Z., & Hadi, K. (2025). Enrichment: Journal of Multidisciplinary Research and Development The Transformation of Islamic Philanthropy as an Economic Power: Multiplier Effect Cash Waqf Linked Deposit (CWLD) in Sharia Banking. In Enrichment: Journal of Multidisciplinary Research and Development (Vol. 3, Issue 8).
Kurniawan, E., Maika, M. R., Latifah, F. N., & Kristiyanto, R. (2024). Cash Waqf Linked Deposit; Sebuah Alternatif Pendanaan Pendidikan Tinggi. Wadiah, 8(2), 242–260. https://doi.org/10.30762/wadiah.v8i2.1344
Nawawi, N., Mirwan, M., Anwar, Z., & Juandi, W. (2024). Wakaf Uang Di Indonesia: Tantangan, Peluang Dan Langkah-Langkah Menuju Pemanfaatan Optimal. LISAN AL-HAL: Jurnal Pengembangan Pemikiran Dan Kebudayaan, 18(1), 126–147. https://doi.org/10.35316/lisanalhal.v18i1.126-147
Sihabudin, M., Moh. Mukhsin, & Najmudin. (2025). Pengaruh Literasi Wakaf dan Theory of Reasoned Action Terhadap Intensi Berwakaf Menggunakan Berkahwakaf.Id (Studi Pada Generasi Z dan Milenial di Kota Serang). Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah, 7(4), 1172–1188. https://doi.org/10.47467/alkharaj.v7i4.6061
Utomo, G. S., & Ismal, R. (2024). Cash Waqf Linked Deposit Potential for Revitalizing Islamic Banking in Indonesia. Share: Jurnal Ekonomi Dan Keuangan Islam, 13(1), 71–91. https://doi.org/10.22373/share.v13i1.22087
Yasin, R. M. (2021). Cash Waqf Linked Sukuk: Issues, Challenges and Future Direction in Indonesia. Jurnal Ekonomi Dan Bisnis Islam (Journal of Islamic Economics and Business), 7(1), 100. https://doi.org/10.20473/jebis.v7i1.24818
Zannah, K. (2025). Studi tentang Implementasi Cash Waqf Linked Sukuk (CWLS) di Bank Mega Syariah KCP Iskandar Muda. Al-Multazim Jurnal Manajemen Bank Syariah, 5(2), 890–912.
Authors
Copyright (c) 2026 Zahra Rodliyatam Mardliyah, Wanda Ramadhana, Rauzatul Jannah, Mardaleta -
This work is licensed under a Creative Commons Attribution 4.0 International License.