Independent provider profile on HalalWallet — products, fees, Shariah oversight, province availability, user reviews, and editorial rating. Published by HalalWallet (halalwallet.ca).
Manzil Review — Halal Finance Products
Co-Founder & CEO, HalalWallet
Reviewed quarterly and updated when provider terms, ratings, or coverage change.
Manzil offers halal financial products and services designed to align with Islamic principles. These options provide alternatives to conventional interest-based financial products, using structures like Murabaha, Ijara, and Musharakah.
Opens provider's site — no obligation
Important: HalalWallet is not a lender, mortgage broker, loan originator, or settlement agent.
“Featured” labels may indicate paid placement in that module.
Outbound links may earn referral fees. Some agreements also include fees when financing funds. You should receive the same product terms as visiting providers directly; confirm with the provider. How we make money · Methodology
HalalWallet 2026 Review
Manzil — At a Glance
13
Products Reviewed
13
Provinces Served
3
Categories
N/A
Founded
Our Verdict
Manzil operates under a Shariah Supervisory Board that provides oversight across its financial products, and states it is the only Canadian provider following AAOIFI Shariah governance.
How It Works
Shariah Compliance Review
Oversight Level
Formal Shariah Board — highest level of independent oversight
Manzil's products are certified by its internal Shariah Supervisory Board, whose governance adheres to AAOIFI standards, with external independent review by Mufti Ebrahim Desai (Darul Iftaa Mahmudiyyah) for home financing. Manzil is Canada's first AAOIFI member and publishes its Shariah compliance certificates in English, French, and Arabic at manzil.co/ca/certifications.
Shariah compliance should always be verified directly with Manzil. HalalWallet reports publicly available oversight information but does not issue fatwas or certify compliance.
Bottom Line
Manzil is Canada's most established halal mortgage provider, offering AAOIFI-aligned Musharaka (co-ownership) alongside a Murabaha structure. Available in Ontario, Alberta, British Columbia, Saskatchewan and Nova Scotia with the largest track record in the market.
Read our full Manzil review
This page is the quick profile — ratings, products, and availability. For the step-by-step walkthrough, costs, and our detailed take:
Products from Manzil
Manzil
LIRA — Locked-In Retirement Account
A retirement account that holds pension funds from a previous employer, with restrictions on when and how funds can be withdrawn.
Opens provider site — no obligation
Manzil
Personal Account (Non-Registered)
A standard investment account with no tax advantages, allowing you to invest in stocks, ETFs, or funds with full flexibility. Taxes apply to gains and income.
Opens provider site — no obligation
Manzil
FHSA — First Home Savings Account
A tax-advantaged account to save for your first home, combining tax deductions on contributions with tax-free withdrawals for qualifying home purchases.
Opens provider site — no obligation
Manzil
TFSA — Tax-Free Savings Account
A flexible account where your investments grow completely tax-free, and withdrawals are not taxed. Can be used for both short- and long-term goals.
Opens provider site — no obligation
Manzil
Murabaha Mortgage
A Shariah-compliant resale (Murabaha) structure in which Manzil purchases the property and resells it to the buyer at a transparent, agreed profit, repaid in fixed instalments with no interest at any point. Certified by Manzil's Shariah Supervisory Board and externally by Mufti Ebrahim Desai (Darul Iftaa Mahmudiyyah).
Opens provider site — no obligation
Manzil
Manzil Russell Halal USA Broad Market ETF (MNZL)
MNZL is a passively managed, Shariah-compliant ETF tracking the Russell IdealRatings Manzil Halal USA Broad Market Index, providing diversified exposure to large-cap U.S. equities screened to AAOIFI standards with an additional ethical overlay. Launched November 2025 on Nasdaq, the fund publishes a quarterly per-share purification amount.
Opens provider site — no obligation
Manzil
RRIF — Registered Retirement Income Fund
An account used after retirement to convert your savings (typically from an RRSP) into regular income, with required minimum withdrawals.
Opens provider site — no obligation
Manzil
Joint Account (Non-Registered)
A shared investment account between two or more individuals, allowing joint ownership and access to funds and investments.
Opens provider site — no obligation
Manzil
Wealth Management
Professionally managed, Shariah-compliant investment portfolios built to AAOIFI standards, with portfolio management provided by Corex Financial Inc. Portfolios are tailored to each client's goals and risk tolerance, available across registered and non-registered accounts, and accessible online and through the Manzil Invest mobile app.
Opens provider site — no obligation
Manzil
Musharaka Mortgage
A fixed-rate, Shariah-compliant co-ownership home financing model: the buyer and Manzil purchase the property as partners, and the buyer gradually buys out Manzil's shares until achieving sole ownership. Returns are generated through profit from asset ownership rather than interest, with contracts certified by Manzil's Shariah Supervisory Board.
Opens provider site — no obligation
Manzil
RRSP — Registered Retirement Savings Plan
A tax-deferred retirement account that helps you save for the future while reducing your taxable income today. Investments grow tax-free until withdrawal.
Opens provider site — no obligation
Manzil
Business Account (Non-Registered)
An investment or savings account designed for businesses to manage surplus cash or invest in Shariah-compliant assets.
Opens provider site — no obligation
Manzil
RESP — Registered Education Savings Plan
An account designed to save for a child’s education, with potential government grants and tax-deferred investment growth.
Opens provider site — no obligation
Important: HalalWallet is not a lender, mortgage broker, loan originator, or settlement agent.
“Featured” labels may indicate paid placement in that module.
Outbound links may earn referral fees. Some agreements also include fees when financing funds. You should receive the same product terms as visiting providers directly; confirm with the provider. How we make money · Methodology
Halal verdicts for Manzil's funds
Our AAOIFI-based Shariah screen — business activity, financial ratios, purification, and where scholars differ — for the specific funds Manzil offers.
Where Available
Based on listings we track, Manzil may be available in the following states:
Availability may vary by product type. Always verify current availability directly with Manzil.
How We Compare
- • We review publicly available information from providers, including Shariah compliance documentation.
- • We compare financing structures, total costs, down payment requirements, and state availability.
- • We prioritize providers that clearly explain their halal compliance rationale and operate with transparency.
- • We note which products are available nationwide versus regionally.
- • Learn more about our methodology.
Manzil offers halal financial products that comply with Shariah principles, avoiding interest (riba) and prohibited industries. Their products are available in 13 states and include Home & Personal Financing, Investing, Retirement options.
- Manzil offers Shariah-compliant financial products that avoid interest and prohibited industries.
- Products are available in 13 states.
- Product categories include Home & Personal Financing, Investing, Retirement.
- Always verify compliance directly with Manzil and consult qualified Islamic finance advisors when needed.
- Compare Manzil's products with other providers to find the best fit for your needs.
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: 2026-07-01
How to cite this page
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For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
Related Guides
Frequently Asked Questions
What types of halal products does Manzil offer?
Manzil offers 13 products across 3 categories. Manzil is best for . Review the products listed above or contact Manzil directly for current offerings.
How does Manzil ensure Shariah compliance?
Review Manzil's publicly available Shariah compliance documentation, understand the product structures they use, and check for independent oversight or Shariah board involvement. Always verify compliance directly with Manzil and consult with qualified Islamic finance advisors for guidance on specific products.
Is Manzil available in my state?
Based on listings we track, Manzil may be available in 13 states. However, availability can vary by product type. Always verify current availability directly with Manzil.
Are Manzil's products more expensive than conventional options?
Halal financing structures can have different fee structures compared to conventional products. Some options may be competitive with conventional rates, while others may have different cost structures. Pricing varies by product type, location, and individual circumstances. Always compare total costs and terms when evaluating options.
How do I contact Manzil?
Contact information for Manzil should be available through their website or the product listings above. Use the action links provided with each product to visit Manzil's website or contact them directly for more information.
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Full AAOIFI-based Shariah screens — business activity, financial ratios, and where scholars differ — for the kinds of holdings Manzil screens.