Halal Investing in Halifax, Nova Scotia

Manzil

RESP - Registered Education Savings Plan

A

Manzil's RESP captures federal education money while keeping the investments halal: the Canada Education Savings Grant matches 20% of the first $2,500 contributed each year - up to $500 annually and $7,200 lifetime per child - with catch-up rules allowing a $1,000 grant on a $5,000 contribution. The lifetime contribution limit is $50,000 per beneficiary with no annual cap, the plan stays open 35 years to accommodate different educational paths, and contributions return tax-free if the child skips post-secondary education. Corex Financial manages the AAOIFI-screened portfolio under Manzil's named Shariah Supervisory Board, with CIRO-member custody and CIPF coverage.

Manzil

Joint Account (Non-Registered)

A

Manzil's joint account lets two or more people - typically spouses or family members - share ownership and full access to a single professionally managed halal portfolio. Both holders can view, deposit, and withdraw, with no contribution limits and no lock-in periods. Corex Financial builds the custom AAOIFI-screened portfolio around the household's shared goal and risk tolerance, whether that's a home purchase or a family reserve, and Manzil's named Shariah Supervisory Board certifies the products. As a non-registered account it offers no tax shelter - gains and income are taxable - and assets are held with CIRO-member custodians covered by CIPF.

Manzil

TFSA - Tax-Free Savings Account

A

Manzil's TFSA puts Canada's most flexible tax shelter to work in AAOIFI-certified halal portfolios: all investment growth and withdrawals are completely tax-free, 2026 contribution room is $7,000 (lifetime room $109,000 for those eligible since 2009), and withdrawn amounts are restored to your room the following calendar year. Corex Financial manages the underlying portfolio - no bonds, GICs, or interest instruments - under Manzil's named three-scholar Shariah Supervisory Board. There is no upper age limit, and assets are held with CIRO-member custodians covered by CIPF.

Manzil

FHSA - First Home Savings Account

A

Manzil's FHSA combines Canada's best-designed account wrapper with halal contents: contributions are tax-deductible like an RRSP, qualifying first-home withdrawals are tax-free like a TFSA, and there is no repayment obligation (unlike the Home Buyers' Plan). Limits are $8,000 per year and $40,000 lifetime, with carry-forward allowing up to $16,000 in a single year. Unused savings transfer tax-deferred to an RRSP or RRIF if no home is bought within 15 years. Corex Financial manages the AAOIFI-screened portfolio - no GICs or interest instruments - making it a natural fit for buyers saving toward Manzil's own halal home financing, which requires 20% down.

Manzil

Wealth Management

A

Manzil Wealth Management is the advisor-led tier above Manzil's standardized robo accounts: professionally managed, Shariah-compliant portfolios built to AAOIFI standards, with portfolio management provided by Corex Financial Inc., a registered Portfolio Manager in every Canadian province and territory. A dedicated advisor from a named six-person team - including a CFP with over 20 years of planning experience - builds bespoke, tax-efficient halal strategies around each client's goals and risk tolerance, across registered and non-registered accounts, accessible online and through the Manzil Invest mobile app. Assets sit with CIRO-member custodians covered by CIPF.

Manzil

Manzil Russell Halal USA Broad Market ETF

A

MNZL is the cheapest halal ETF on the market at a 0.40% expense ratio and casts the widest US net: its full daily holdings table showed about 480 positions in August 2026, built from the Russell 1000 via the Russell IdealRatings Manzil Halal USA Broad Market Index under AAOIFI screening rules. Nasdaq-listed since November 18, 2025, the fund is young and small - $25.3M in net assets as of August 4, 2026 - and adds an AFSC human-rights overlay that screens out companies linked to grave rights violations.

Manzil

Business Account (Non-Registered)

A

Manzil's business account gives incorporated owners a halal home for surplus corporate cash that would otherwise sit in an interest-bearing account: a corporate investment account with no contribution limits or lock-in, where Corex Financial builds a custom AAOIFI-screened portfolio around the business's timeline. It suits reserves earmarked for tax payments or future expansion - capital that should be working but must stay reachable. Investment income is taxable to the business, and the portfolio draws only from Manzil's screened equity and income buckets, with no bonds, GICs, or interest instruments. Assets are held with CIRO-member custodians covered by CIPF.

Manzil

Personal Account (Non-Registered)

A

Manzil's non-registered personal account is the flexibility play in its Canadian lineup: a standard taxable investment account with no contribution limits, no lock-in periods, and withdrawals any time without penalty. Inside it, Corex Financial builds a custom portfolio to your risk tolerance holding only AAOIFI-screened investments across two buckets - equities and income (real estate and sukuk) - with no bonds, GICs, or interest-bearing instruments. Gains and investment income are taxable each year, which is why most investors fill their TFSA and RRSP room first and use this account for the overflow. Assets are held with CIRO-member custodians covered by CIPF.

Wahed

Wahed FTSE USA Shariah ETF

B-

HLAL is Wahed's flagship ETF and the second-largest halal equity fund in North America at $914M in net assets (August 2026). It passively tracks the FTSE USA Shariah Index - about 200 US stocks passing FTSE's business-activity and financial-ratio screens certified by Yasaar Limited - at a 0.50% expense ratio. Nasdaq-listed since July 2019, it distributes annually, publishes quarterly purification amounts, and sits under Wahed's three-scholar Shariah Supervisory Board. Canadians buy it in USD through any brokerage with US market access.

Wahed

Wahed Dow Jones Islamic World ETF

B-

UMMA is one of the few single-ticker routes to Shariah-compliant international equity: roughly 100 non-US names from developed and emerging markets, loosely tracking the Dow Jones Islamic Market International Titans 100 with ESG data formally incorporated - Wahed markets it as the first US-listed Islamic ETF to do so. Net assets reached $285M in August 2026. The 0.65% expense ratio is the highest among major halal ETFs, the price of active international management. Nasdaq-listed since January 2022 with quarterly distributions.

Wealthsimple

Wealthsimple Shariah World Equity Index ETF

B-

WSHR is the only Shariah-compliant ETF listed on a Canadian exchange (Cboe Canada). It tracks the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index - roughly 160 developed-market stocks screened by Ratings Intelligence Partners, weighted by risk rather than market cap so no holding exceeds about 1%. Trading in Canadian dollars (around $35 in early Aug 2026) means no currency conversion on purchase and no US dividend withholding tax inside a TFSA, FHSA, or RESP. Management fee is 0.50%; Mackenzie Investments manages the fund.

SPFunds

SP Funds S&P Global Technology ETF

B-

SPTE concentrates the SP Funds Shariah screen on global technology: it tracks the S&P Global 1200 Shariah IT Capped Index, roughly 100 tech names from 14 countries that pass AAOIFI-aligned business and financial-ratio screens. That adds non-US leaders like Taiwan Semiconductor to the familiar US mega-caps. Net assets reached $217M in August 2026 with a 0.55% expense ratio. Tech's large cash piles mean SPTE carries the highest purification factors in the family (Q1 2026: 2.27% of dividends), published quarterly with a free calculator.

SPFunds

SP Funds S&P Global REIT Shariah ETF

B-

SPRE gives halal investors real estate exposure without owning property: it tracks the S&P Global All Equity REIT Shariah Capped Index, about 30 REITs worldwide screened so rental income sources and leverage ratios meet Shariah requirements. Net assets were $221M in August 2026 with a 0.50% expense ratio and monthly distributions, and it consistently carries the lowest purification factors in the SP Funds family (Q1 2026: 0.52% of dividends) because rental income dominates. NYSE-listed in USD.

SPFunds

SP Funds S&P World ETF

B-

SPWO is the broadest fund in the SP Funds family: it tracks the S&P DM Ex-US & EM 50/50 Shariah Index, roughly 500 Shariah-screened constituents split evenly between developed and emerging markets outside the United States. It is the natural international complement to SPUS, completing a halal three-fund portfolio with SPSK. Net assets stood at $200M in August 2026 with a 0.55% expense ratio per the prospectus. One structural quirk: capped-index weighting still left Taiwan Semiconductor near 20% of the fund at mid-2026.

SPFunds

SP Funds Dow Jones Global Sukuk ETF

B-

SPSK is the only US-listed sukuk ETF - the closest thing to a halal bond fund available through a Canadian brokerage. It tracks the Dow Jones Sukuk Total Return Index, holding roughly 170 investment-grade, USD-denominated sukuk whose returns come from underlying assets and profit streams rather than interest. Net assets stood at $645M in August 2026 with a 0.50% expense ratio and monthly distributions. SP Funds states no purification is required on SPSK because sukuk are Sharia-compliant by construction.

SPFunds

SP Funds S&P 500 Shariah Industry Exclusions ETF

B-

SPUS is the largest halal ETF in North America: $3.39B in net assets (2026-10-07 fund page) tracking the S&P 500 Shariah Industry Exclusions Index, roughly 200 US large caps that pass S&P's Shariah business-activity and financial-ratio screens with extra industry exclusions. The 0.45% expense ratio is the cheapest in the SP Funds family, distributions are paid monthly, and the fund lists on the NYSE in US dollars - Canadians buy it through any brokerage with US market access and absorb currency conversion plus withholding-tax considerations in registered accounts.

global growth assets

Global Iman Fund

B-

The Global Iman Fund is Canada's longest-established Shariah global equity mutual fund - Series A has run since March 2009 - with about $244M in assets (Fund Facts, April 30, 2026). UBS Investment Management Canada actively manages a concentrated portfolio of 23 holdings drawn from the Dow Jones Islamic Market Titans 100 universe, 66% of it in the top ten mega-cap names. Cost is the catch: a 2.79% MER, though the management fee was cut from 2.50% to 2.45% in May 2026. Minimums are accessible at $500 initial and $25 subsequent, and the fund is sold through roughly 30 dealers including Questrade, RBC Dominion Securities, and TD Waterhouse.

Musaffa

Sharia Compliance Investment Screening

B-

Musaffa is a halal investment research platform screening 120,000+ global stocks and 8,200+ ETFs to AAOIFI standards, with graded verdicts (C- to A+ halal ratings) and up to three years of compliance history per company. For Canadians it works as a research layer over an existing brokerage: mid-2026 coverage counted 403 halal stocks of 3,159 screened on Canadian markets and 10 halal ETFs of 1,281, with portfolio tracking and automated purification through Wealthsimple, Questrade, and Webull Canada connections. The free tier covers basic screening; the Foundation plan at $72 USD/year adds detailed reports, research, and purification. Musaffa's commission-free trading platform serves US residents only.

Zoya

Sharia Compliance Investment Screening

B-

Zoya is a Shariah screening app built around transparency: compliance reports expose the actual AAOIFI ratios and segment-level revenue breakdowns so users can verify rather than trust, under the guidance of Sheikh Joe Bradford (AAOIFI-certified CSAA, ex-Al Rajhi Bank) and Sheikh Umer Khan (mufti, Wharton MSF). For Canadians it covers TSX-listed stocks (ETF and mutual fund screening is US-market only), syncs portfolios from Wealthsimple and Questrade twice daily, and sends compliance alerts when a holding's status changes. The free tier gives AAOIFI status verdicts; Zoya Pro ($14.99 USD/month or $119.99/year via app stores, or pay-what-you-think-is-fair from about $9/month on the web) adds full reports and alternative rulebooks.

Assad Wealth Management

Wealth Management

B-

Assad Wealth Management is a roughly twelve-person Calgary-based division of IG Wealth Management (CIRO member, CIPF protection) led by Hash Assad, CFP, offering advisor-led halal portfolio construction to high-net-worth Canadian Muslim families across all provinces via secure virtual meetings. The practice publishes exact DJIM-style screening ratios - debt under 33% of market value, receivables under 49%, cash plus interest-bearing securities under 33%, non-permissible revenue under 5% - and anchors its halal shelf on the Mackenzie Shariah Global Equity Fund. No fee schedule, advisory rate, or minimum is published anywhere on the site; pricing follows IG Wealth Management's dealer structure and must be requested in writing.

Assad Wealth Management

A Donor-Advised Fund (DAF)

B-

Assad Wealth's Halal Donor-Advised Fund - marketed as Canada's first and only - is a charitable giving account: contribute cash or securities, receive an immediate tax receipt through Charitable Impact Foundation (CHIMP), an MNP-audited Canadian public foundation that handles administration and receipting, and let Assad Wealth manage the balance under its published DJIM-style halal screens until you grant it to registered charities on your own timeline. Assad frames it Islamically as a private waqf and sadaqa jariah vehicle with family naming or anonymity options. Neither CHIMP's administration fees nor Assad's management fees are published, and no minimum contribution is stated.

Mackenzie Investments

Mackenzie Shariah Global Equity Fund

B-

The Mackenzie Shariah Global Equity Fund (inception February 2024) packages actively managed halal global equity in the mutual fund format Canadian advisors already use. Mackenzie's Global Quantitative Equity Team, led by Arup Datta, selects from companies pre-approved for the Dow Jones Islamic Market World Index, with Ratings Intelligence's Shariah advisory board issuing the fatwa, auditing semi-annually, and supporting an annually published purification ratio. Series A carries a 1.95% management fee and 2.65% MER; fee-based Series F runs 0.80% and 1.12%. Minimum investment is $500.

Akinda

Akinda Halal Stock Screener

Akinda is a Shariah-compliant stock research and portfolio platform that screens US, UK, and Canada listed equities against AAOIFI Shari'ah Standard No. 21 and shows the full ratio math behind every verdict. Canadians can use it as a research layer over an existing brokerage. Akinda does not hold client funds, execute trades, or manage portfolios.

Amana Funds

Amana Equity Income ETF

The Amana Equity Income ETF (AMEI) is Saturna Capital's actively managed, Nasdaq-listed ETF counterpart to the Amana Income Fund. Launched June 24, 2026, it keeps at least 80% of assets in income-producing securities - primarily dividend-paying common stocks, domestic and foreign - screened to Islamic principles, with current income as the primary objective. Expense ratio 0.76%; net assets $5.98M and 32 holdings at the 2026-10-19 fund page check.

Amana Funds

Amana Growth ETF

The Amana Growth ETF (AMGR) is Saturna Capital's actively managed, Nasdaq-listed ETF version of the Amana Growth Fund strategy. Launched June 24, 2026, it holds a concentrated book of 31 large-cap growth stocks - domestic and foreign - selected for earnings and revenue growth and screened to Islamic principles, at a 0.61% expense ratio. Net assets were $7.87M at the 2026-10-19 fund page check, so it is still an early-stage fund.

Amana Funds

Amana Developing World ETF

The Amana Developing World ETF (AMEM) is Saturna Capital's actively managed, Nasdaq-listed emerging-markets halal ETF, the counterpart to the Amana Developing World Fund. Launched June 24, 2026, it invests at least 80% of assets in companies with significant exposure (50% or more of production assets or revenues) to developing economies across Saturna's list of 34 countries, screened to Islamic principles. Expense ratio 0.91%; net assets $6.09M and 31 holdings at the 2026-10-19 fund page check.