Manzil vs Musaffa
Manzil and Musaffa both offer investing. This page lines up 15 listed data points side by side, with 8 differences, so you can see exactly where they part ways before you request quotes.
Built from each provider's listed data · provider data last verified Nov 2026
At a glance
- Both are available in all of Canada.
- Manzil uses Wealth Management; Musaffa uses Stock Screener.
- Shariah oversight: Manzil discloses Formal Board; Musaffa discloses Named Scholar.
- HalalWallet Index: Manzil holds a A; Musaffa holds a B-.
- On measurable rows, Manzil has the better listed value on 1 and Musaffa on 0.
- They differ on 8 of the 15 data points we list for investing.
No editorial verdict has been written for this pair yet. The side-by-side below is the full data view; where we have written one, you'll find it under Compare.
Manzil vs Musaffa: the full side-by-side
15 data points from each provider's published materials, lined up row by row. They differ on 8.
Manzil
Pays us: No. Manzil pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Musaffa
Pays us: No. Musaffa pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.15 of 15 rows
Provinces covered
SameManzil: All of CanadaMusaffa: All of Canada
Expense ratio
Manzil: 0.40%Musaffa: Not listed
Structure
Manzil: Wealth ManagementMusaffa: Stock ScreenerShariah oversight
Manzil: Formal BoardMusaffa: Named ScholarShariah board / scholar
Manzil: Formal BoardMusaffa: Named ScholarPublished fatwa / certificate
SameManzil: NoMusaffa: NoScreening standard
Manzil: Russell IdealRatings Manzil Halal USA Broad Market IndexMusaffa: AAOIFI - non-permissible income <=5% of revenue; interest-bearing assets and debt each <=30% of trailing 36-month average market cap
Products listed
Manzil: Wealth Management, Personal Account (Non-Registered), Business Account (Non-Registered), TFSA - Tax-Free Savings Account, FHSA - First Home Savings Account, RESP - Registered Education Savings Plan +2 moreMusaffa: Sharia Compliance Investment ScreeningBest for
Manzil: Individuals investing outside registered accounts - an emergency fund, Hajj savings, a future down payment - who want a managed halal portfolio with no contribution ceiling and money accessible at any time.Musaffa: Canadian investors who want graded, published-methodology halal screening across TSX and global stocks as a research layer over their existing brokerage - Musaffa's trading service itself doesn't serve Canada.Product types
Manzil: Investment Platform, ETFMusaffa: Stock ScreenerTickers
Manzil: MNZLMusaffa: Not listedHoldings
Manzil: ~480Musaffa: Not listedFocus
Manzil: Managed Halal Portfolios (Wealth Management) · US Large & Mid Cap (Manzil Russell Halal USA B…)Musaffa: Not listed
HalalWallet Index grade
Manzil: A EdgeMusaffa: B-Assets under management
Manzil: $39.96M (2026-11-13)Musaffa: Not listed
Edge marks the side with the better listed number on measurable rows (lower fee, wider coverage, higher grade). It is not a verdict - a provider can win more rows and still be the wrong fit for you.
Strengths and trade-offs
Manzil
- Portfolios built to AAOIFI standards and matched to your goals and risk tolerance
- Portfolio management provided by Corex Financial Inc.
- Works across registered and non-registered accounts
- Accessible online and through the Manzil Invest mobile app
- No contribution limits or withdrawal restrictions - invest with full flexibility
- Managed approach means you don't pick individual securities
- Management fees aren't published - the posted $48/year + 0.40% pricing applies to Manzil's US platform, so confirm CAD pricing before signing up
- No published minimum for the wealth management tier - expect a suitability conversation before onboarding
- No tax shelter - gains and investment income are taxable each year
- Limited to Manzil's managed halal portfolio lineup
Musaffa
- Screening methodology developed under named advisors, including Shaikh Dr. Aznan Hasan and Mufti Faraz Adam
- Dedicated Sharia stock screening platform with C- to A+ graded verdicts and compliance history
- Canadian broker connections: Wealthsimple, Questrade, and Webull Canada for portfolio tracking and purification
- Transparent published methodology with AAOIFI three-ratio formulas
- Research platform only for Canadians - trading happens at your own brokerage, since Musaffa's trading service is US-only
- Foundation plan required for detailed compliance reports and purification - the free tier shows basic status only
- Prices are in USD despite serving Canadian users
Products behind the numbers
Where a row shows more than one value, it is because the provider lists several investing products. Each is tagged.
Manzil (8)
- Wealth ManagementDetails
- Personal Account (Non-Registered)Details
- Business Account (Non-Registered)Details
- TFSA - Tax-Free Savings AccountDetails
- FHSA - First Home Savings AccountDetails
- RESP - Registered Education Savings PlanDetails
- Joint Account (Non-Registered)Details
- Manzil Russell Halal USA Broad Market ETF · MNZLDetails
Musaffa (1)
- Sharia Compliance Investment Screening
Manzil
Pays HalalWallet: No. Manzil pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Musaffa
Pays HalalWallet: No. Musaffa pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Not sure which is right? Compare all investing providers.
Browse all Investing optionsEditorial comparisons
How do Manzil and Musaffa compare for investing?
Manzil and Musaffa both offer investing. This page lines up 15 listed data points side by side, with 8 differences, so you can see exactly where they part ways before you request quotes.
- Both are available in all of Canada.
- Manzil uses Wealth Management; Musaffa uses Stock Screener.
- Shariah oversight: Manzil discloses Formal Board; Musaffa discloses Named Scholar.
Source: HalalWallet (halalwallet.ca)
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Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-11-13
How to cite this page
Preferred format (HTML):
https://www.halalwallet.ca/compare/manzil-vs-musaffa, retrieved 2026-11-14).For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.
What HalalWallet is and is not
Scholars rule; we organize the evidence. HalalWallet is an independent research and comparison site for halal financial products. It is not a lender, bank, broker or adviser, and it is not a fatwa body.
What we do
- We document each product's contract, Shariah oversight, costs and availability, with the date we last checked.
- We show the range of scholarly opinion on contested questions, with sources.
What we do not do
- We do not lend, hold money, open accounts or take applications. You apply with the provider.
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- We do not give personal financial, legal or tax advice.
Where our role ends and who takes over · Who pays HalalWallet · HalalWallet Trust Standard, version 1.0
Before you decide, finish with three checks:
- Confirm current terms and halal compliance directly with the provider. Their quote is final.
- Read the contract structure (Murabaha, Ijara, Musharakah and so on) and any published Shariah board opinion.
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