Investing · Assad Wealth Management
Assad Wealth Management A Donor-Advised Fund (DAF)
Co-Founder & CEO, HalalWallet
Facts are re-verified against Assad Wealth Management's published materials; this page updates when the provider's terms, rates, or coverage change.
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.
Opens provider's site - no obligation
HalalWallet is an independent, education-only comparison site. Some outbound links earn referral fees.Advertiser disclosure
Important: HalalWallet is not a lender, mortgage broker, loan originator, or settlement agent. We are an educational comparison site and do not originate applications on your behalf.
Items marked “Featured” may include paid placement in that module. Where you control sort order (tables, filters), your selection applies.
Referral fees typically come from the provider's marketing budget and should not increase what you pay - you should receive the same terms as visiting providers directly; confirm with the provider. How we make money · Methodology · Legal disclosures
What is the Assad Wealth Management A Donor-Advised Fund (DAF)?
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.
- Contract structure: Donor-Advised Fund.
- Available in 10 provinces.
- Shariah oversight disclosed: No Public Review.
- Verified against Assad Wealth Management's published materials on 2026-08-05.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Donor-Advised Fund
- Availability
- 10 provinces
- Shariah oversight
- No Public Review
- Shariah board
- No Public Review
- Last verified
- 2026-08-05
Facts are taken from Assad Wealth Management's published product materials and were last verified on 2026-08-05. Fields the provider does not publish are omitted rather than estimated.
Our take
A donor-advised fund is a smart structure for planned giving - contribute now for the immediate tax receipt, let the assets grow tax-free, and grant to charities over time - and Assad offers it within a Shariah-compliant investment approach with credible administrative plumbing through the MNP-audited Charitable Impact Foundation. The gaps sit on the religious and cost sides: no scholar or board is named for the DAF specifically, and neither of the two fee layers (CHIMP administration, Assad management) is published, nor is a minimum contribution. Careful donors should probe all three before funding. Best for affluent Canadian Muslim families and business owners who want to organize long-term charitable giving - a family waqf-style fund - through one tax-receipted vehicle.
Strengths
- Immediate tax receipt when you contribute cash or securities
- Contributed funds stay invested under published halal screens to grow tax-free before granting
- Grants can flow to your chosen registered charities on your own timeline
- Administration by Charitable Impact Foundation (CHIMP), an MNP-audited public foundation
- Family naming or anonymity options - structured as sadaqa jariah / private waqf
Watch-outs
- No scholar or committee is named for the Halal DAF specifically; the only verifiable religious governance sits at the underlying Mackenzie fund level
- Two layers of unpublished fees - CHIMP administration plus Assad Wealth management - and no stated minimum
- The 'first and only halal DAF in Canada' claim is unverified marketing with no substantiation or date given
Is the Assad Wealth Management A Donor-Advised Fund (DAF) halal?
The Halal DAF channels charitable capital through genuinely halal plumbing: contributions (cash or securities) earn an immediate tax receipt via Charitable Impact Foundation - an MNP-audited public foundation handling administration and granting - while Assad manages the invested balance under its published DJIM-style screens, so the fund grows through halal investments rather than interest-bearing instruments before reaching charities. Assad frames it Islamically as a private waqf and sadaqa jariah vehicle. No named scholar or board oversees the DAF specifically - the practice's 'Shariah board' claim is unnamed - so confirm the religious oversight and the screening of the DAF's actual holdings directly.
Shariah oversight disclosed by Assad Wealth Management
Assad Wealth describes its investment approach as Shariah-compliant but does not publicly disclose a Sharia advisory board, named scholar, or third-party certification.
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Marketed as 'Canada's first and only halal donor-advised fund' (company claim, unsubstantiated on-site)
- Immediate tax receipt for contributions of cash or securities, administered through Charitable Impact Foundation (CHIMP) - an MNP-audited public foundation
- Contributed assets managed by Assad Wealth under its published DJIM-style halal screens while awaiting grants
- Framed Islamically as a private waqf and sadaqa jariah vehicle, with family naming or anonymity options
- Grants flow to your chosen registered charities on your own timeline
- No fees, minimums, or DAF-specific Shariah oversight published - confirm all three directly
Cost and terms
No fees published: neither CHIMP's DAF administration fees nor Assad Wealth's investment management fees appear on the DAF page or FAQ, and no minimum contribution is stated (crawled 2026-07-28, rechecked 2026-08-05) - request both fee layers in writing before committing
How it compares
Other investing providers we list in Canada, ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| Assad Wealth Management A Donor-Advised Fund (DAF) (this page) | Donor-Advised Fund | No Public Review | 10 provinces | — |
| Manzil Personal Account (Non-Registered) | Wealth Management | Formal Board | every province | A |
| ShariaPortfolio Wealth Management | Wealth Management | Third-Party Certified | 4 provinces | — |
| SPFunds SP Funds S&P World ETF | Index-based | Third-Party Certified | 10 provinces | — |
| Wahed FTSE USA Shariah ETF | Index-based | Third-Party Certified | 10 provinces | B |
Other Assad Wealth Management products
- Wealth Management
Investing · Wealth Management
Where it's available
Assad Wealth Management lists the A Donor-Advised Fund (DAF) as available in 10 provinces.
Availability may vary by product and can change; verify with Assad Wealth Management before applying.
Frequently asked questions
Is the Assad Wealth Management A Donor-Advised Fund (DAF) halal?
The Halal DAF channels charitable capital through genuinely halal plumbing: contributions (cash or securities) earn an immediate tax receipt via Charitable Impact Foundation - an MNP-audited public foundation handling administration and granting - while Assad manages the invested balance under its published DJIM-style screens, so the fund grows through halal investments rather than interest-bearing instruments… Contract structure: Donor-Advised Fund. Shariah oversight disclosed by Assad Wealth Management: No Public Review. HalalWallet reports what the provider documents; we do not certify products.
How does the Assad Wealth Management A Donor-Advised Fund (DAF) work?
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.
What does the Assad Wealth Management A Donor-Advised Fund (DAF) cost?
No fees published: neither CHIMP's DAF administration fees nor Assad Wealth's investment management fees appear on the DAF page or FAQ, and no minimum contribution is stated (crawled 2026-07-28, rechecked 2026-08-05) - request both fee layers in writing before committing
Where is the Assad Wealth Management A Donor-Advised Fund (DAF) available?
Assad Wealth Management lists this product as available in 10 provinces. Availability can change and may differ by province; verify directly with Assad Wealth Management.
What are the alternatives to the Assad Wealth Management A Donor-Advised Fund (DAF)?
In the same category we also list Manzil Personal Account (Non-Registered) (HalalWallet Index A), ShariaPortfolio Wealth Management, SPFunds SP Funds S&P World ETF. Compare every option side by side on our Halal Investing hub.
When was this Assad Wealth Management product information last verified?
HalalWallet last verified the Assad Wealth Management A Donor-Advised Fund (DAF) details against Assad Wealth Management's published materials on 2026-08-05. Rates, fees, and availability can change after that date.
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-05
How to cite this page
Preferred format (HTML):
For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.