Manzil Review

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'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's flagship halal mortgage: a fixed-rate diminishing Musharaka in which buyer and Manzil purchase the home as partners, the buyer holds title, and each payment buys back Manzil's ownership units while paying a profit rate on the share not yet owned. Manzil publishes an actual rate sheet - effective July 23, 2026: profit rates from 5.90% (2-year) to 6.20% (5-year fixed), maximum financing CAD $1,500,000 at up to 80% finance-to-value (20% minimum down), minimum 680 credit score, and amortization up to 25 years. Funding comes from the Manzil Mortgage Fund investor pool rather than bank credit lines, and contracts are certified by Manzil's Shariah Supervisory Board with external certification from Darul Iftaa Mahmudiyyah.

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are completely tax-free, 2026 contribution room is $7,000 (lifetime room $109,000 for those eligible since 2009), and withdrawn amounts are restored to your room the following calendar year.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'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's RRIF keeps the drawdown years halal: it converts a maturing RRSP, PRPP, or RPP into regular retirement income - no new contributions allowed - with mandatory annual minimum withdrawals beginning the year after opening and amounts above the minimum available any time. The undrawn balance keeps growing tax-deferred in AAOIFI-screened portfolios managed by Corex Financial, drawing income from screened equities and halal instruments rather than the interest-yielding annuities and GICs conventional retirees default to. Manzil's named Shariah Supervisory Board certifies the products, and assets are held with CIRO-member custodians covered by CIPF.

Manzil's LIRA takes the pension you left behind at a former employer and moves it into halal management: the account holds vested pension transfers only - personal cash contributions are not permitted - with funds generally locked until age 55 and unlocking exceptions for hardship, shortened life expectancy, or small balances. Growth is tax-deferred in AAOIFI-screened portfolios managed by Corex Financial under Manzil's named Shariah Supervisory Board, whose compliance certificates are published in English, French, and Arabic. The account converts to a LIF or life annuity by December 31 of the year you turn 71. Assets sit with CIRO-member custodians covered by CIPF.

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's RRSP finally lets observant Canadians capture the country's biggest tax deduction without holding interest-bearing funds: contributions are tax-deductible (2026 limit: $33,810 or 18% of prior-year earned income, whichever is lower), unused room carries forward indefinitely, and growth compounds tax-deferred until withdrawal. Corex Financial manages the AAOIFI-screened portfolio - screened equities and halal income assets in place of the bond and GIC allocations conventional RRSP portfolios rely on - under Manzil's named three-scholar Shariah Supervisory Board. The account converts to a RRIF or annuity by December 31 of the year you turn 71, with CIRO-member custody and CIPF coverage.

Manzil Wills is the online Islamic will builder from Canada's first AAOIFI-member fintech: a legally valid will with Faraid distribution, madhhab selection, funeral and burial wishes, plus incapacity (POA) and living-will provisions, generated in about 20 minutes. Two tiers are published: Legal Essentials at $99 per will and Premium Coverage at $149, which Manzil markets as saving $1,000+ versus visiting a lawyer. What separates it from generic will kits is governance - products pass a six-step development process ending in a formal fatwa from a named Shariah Supervisory Board, with compliance certificates published on manzil.co. It is not a law firm, and no lawyer reviews the finished document.

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. Financing runs CAD $100,000 to $1,500,000 with a 20% minimum down payment, a 680 minimum credit score, 2-5 year terms and amortization up to 25 years, currently offered in Ontario. The total cost is agreed once at signing, funding comes from the Shariah-compliant Manzil Mortgage Fund, and the product is certified by Manzil's Shariah Supervisory Board and externally by Mufti Ebrahim Desai (Darul Iftaa Mahmudiyyah).

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'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'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.