Manzil vs ShariaPortfolio
Manzil and ShariaPortfolio both offer retirement - Manzil in all of Canada, ShariaPortfolio in 4 provinces. This page lines up 9 listed data points side by side, with 6 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 Oct 2026
At a glance
- Manzil lists all of Canada; ShariaPortfolio lists 4 provinces.
- Both use a Wealth Management structure.
- Shariah oversight: Manzil discloses Formal Board; ShariaPortfolio discloses Third-Party Certified.
- HalalWallet Index: Manzil holds a B+; ShariaPortfolio holds a B-.
- On measurable rows, Manzil has the better listed value on 2 and ShariaPortfolio on 0.
- They differ on 6 of the 9 data points we list for retirement.
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 ShariaPortfolio: the full side-by-side
9 data points from each provider's published materials, lined up row by row. They differ on 6.
Manzil
Pays us: No. Manzil pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
ShariaPortfolio
Pays us: No. ShariaPortfolio pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.9 of 9 rows
Provinces covered
Manzil: All of Canada EdgeShariaPortfolio: 4 provinces
Structure
SameManzil: Wealth ManagementShariaPortfolio: Wealth ManagementShariah oversight
Manzil: Formal BoardShariaPortfolio: Third-Party CertifiedShariah board / scholar
Manzil: Formal BoardShariaPortfolio: Third Party CertifiedPublished fatwa / certificate
SameManzil: NoShariaPortfolio: NoScreening standard
Manzil: Not listedShariaPortfolio: AAOIFI - under 5% impure revenue; interest-bearing debt below 30-33% of market cap; music/cinema/broadcasting excluded
Products listed
Manzil: RRIF - Registered Retirement Income Fund, RRSP - Registered Retirement Savings Plan, LIRA - Locked-In Retirement AccountShariaPortfolio: RRIF - Registered Retirement Income Fund, RRSP - Registered Retirement Savings Plan, PPP - Personal Pension Plan, LIRA - Locked-In Retirement Account, IPP - Individual Pension PlanBest for
Manzil: Retirees converting RRSP savings into regular income who want the undrawn balance to stay invested halal through retirement instead of moving to conventional annuities or GICs.ShariaPortfolio: Retirees converting their RRSPs who want mandatory RRIF withdrawals funded by halal portfolio returns rather than bond interest - and a managed hand on the allocation as drawdowns begin.
HalalWallet Index grade
Manzil: B+ EdgeShariaPortfolio: B-
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
- Converts RRSP savings into regular retirement income while staying Shariah-compliant
- Remaining balance stays invested in AAOIFI-certified halal portfolios
- Available in all 13 Canadian provinces and territories
- Withdrawals above the minimum available any time
- Contributions reduce your taxable income today while investments grow tax-deferred
- Required minimum withdrawals apply each year regardless of market conditions
- Limited to Manzil's managed halal portfolio lineup
- Canadian fees aren't published on manzil.co - the posted $48/year + 0.40% pricing applies to the US platform, so confirm CAD pricing at signup
- Withdrawals are taxed as income, so funds are effectively committed until retirement
- Locked-in rules restrict when and how funds can be withdrawn
ShariaPortfolio
- Turns RRSP savings into regular retirement income
- Shariah screening continues through the drawdown years
- Managed strategies calibrated for withdrawal needs, not just growth
- Custody at Fidelity Clearing Canada ULC, a CIRO-regulated custodian in the Fidelity group
- Tax-deductible contributions with tax-deferred investment growth
- Required minimum withdrawals apply every year
- Third-party certification rather than a formal in-house Shariah board
- No fees or minimums published - confirm pricing in the initial consultation
- Withdrawals are taxed as income
- Designed for business owners - not available to regular employees
Products behind the numbers
Where a row shows more than one value, it is because the provider lists several retirement products. Each is tagged.
Manzil (3)
Manzil
Pays HalalWallet: No. Manzil pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.ShariaPortfolio
Pays HalalWallet: No. ShariaPortfolio pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Manzil vs ShariaPortfolio in other categories
Not sure which is right? Compare all retirement providers.
Browse all Retirement optionsEditorial comparisons
How do Manzil and ShariaPortfolio compare for retirement?
Manzil and ShariaPortfolio both offer retirement - Manzil in all of Canada, ShariaPortfolio in 4 provinces. This page lines up 9 listed data points side by side, with 6 differences, so you can see exactly where they part ways before you request quotes.
- Manzil lists all of Canada; ShariaPortfolio lists 4 provinces.
- Both use a Wealth Management structure.
- Shariah oversight: Manzil discloses Formal Board; ShariaPortfolio discloses Third-Party Certified.
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: 2026-10-14
How to cite this page
Preferred format (HTML):
https://www.halalwallet.ca/compare/manzil-vs-shariaportfolio-retirement, 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.
- We do not issue fatwas or certify any product as halal. Rulings belong to a scholar you trust.
- 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.
- Bring your shortlist to a qualified scholar or licensed adviser, so the conversation is about your situation, not the basics.
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