The Road to the SDGs

depending on the risk profile associated with each. X The first fund, IWIF for Al-Quds Empowerment, for US$ 100 million — seeded with US$ 20 million from ISFD — was established in September 2019 following approval by ISFD Board of Directors. Several other IWIF funds are expected to be established over the next couple of years for US$ 250–500 million, as part of a US$ 2.5 billion funds programme for the coming five years. INVESTMENT X Funding for the CWS is collected via the capital market, targeting high-net-worth individuals, financial institutions, corporates and interested members of the public. Other means could be used at later stages like crowdfunding platforms, blockchain or other internet-based resource mobilisation tools. Minimum subscription in this category is set at US$ 100. X The target for CWS is to initially raise US$ 500 million, with a first issuance of US$ 200 million. X CWS as a product has been well received by the Dubai Financial Services Authority and will be listed on the Nasdaq Dubai stock exchange, which will be a major partner in the issuance of CWS. X Several IWIFs are expected to be established over the coming few years and would generate an average return of 6-10% annually or US$ 150 — 250 million on the US$ 2.5 billion expected capital — a potential return of US$ 2.5 billion over 10 years. X The first of which is the US$ 100 million for Al-Quds Empowerment Fund which will generate approximately US$ 60 million over 10 years, to be spent on poverty- alleviation projects and programmes in Palestine. I H S A N W A Q F I N V E S T M E N T F U N D Each of the IWIF funds is expected to generate a return of 6–10% annually C A S H W A Q F S U K U K The target for CWS is to raise US$500 million with a first issuance of US$200 million [ 165 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S