Investing · Manzil
Manzil Business Account (Non-Registered)
Co-Founder & CEO, HalalWallet
Facts are re-verified against Manzil's published materials; this page updates when the provider's terms, rates, or coverage change.
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.
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What is the Manzil Business Account (Non-Registered)?
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.
- Contract structure: Wealth Management.
- Available in every province.
- Shariah oversight disclosed: Formal Board.
- HalalWallet Index grade for Manzil in Investing: A.
- Verified against Manzil's published materials on 2026-09-29.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Wealth Management
- Availability
- every province
- Shariah oversight
- Formal Board
- Shariah board
- Formal Board
- Last verified
- 2026-09-29
Facts are taken from Manzil's published product materials and were last verified on 2026-09-29. Fields the provider does not publish are omitted rather than estimated.
Our take
Muslim business owners with idle corporate cash have few halal options in Canada - conventional corporate savings accounts pay interest, and most investment dealers have no Shariah-screened corporate offering at all. Manzil's business account lets a company invest surplus funds to AAOIFI standards under a named three-scholar Shariah board, with Corex Financial building the portfolio around the business's cash-flow timeline. Returns are taxable to the business, choices are limited to Manzil's managed lineup, and the Canadian fee schedule is unpublished, so confirm pricing before moving corporate reserves. Best for incorporated owners and professionals who want retained earnings working halal instead of generating riba in a deposit account.
Strengths
- Puts surplus business cash to work in Shariah-compliant assets
- AAOIFI-aligned certification from Manzil's Shariah Supervisory Board
- Available in all 13 Canadian provinces and territories
- No contribution limits or lock-in - reserves stay reachable
Watch-outs
- Non-registered - investment income is taxable to the business
- 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
Is the Manzil Business Account (Non-Registered) halal?
The account wrapper is tax treatment, not the investment - what makes it halal is what's inside: Manzil portfolios hold only AAOIFI-screened securities with no bonds, GICs, or interest-bearing instruments, incidental impure income is quantified for purification, and products are certified by Manzil's Shariah Supervisory Board (Dr. Shaher Abbas, Dr. M. Gadhoum, Mufti Faraz Adam). Business cash is invested in screened portfolios instead of sitting in interest-bearing corporate accounts.
Shariah oversight disclosed by Manzil
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.
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Corporate investment account for surplus business cash - no contribution limits or lock-in
- Replaces interest-bearing corporate savings with AAOIFI-screened halal portfolios
- Custom portfolio built and managed by Corex Financial around the business timeline
- Suits reserves earmarked for tax payments or future expansion
- Assets held with CIRO-member custodians covered by CIPF
Cost and terms
Canadian fee schedule not published on manzil.co (crawled 2026-08-05): the platform's pricing page is US-branded ($48/year Core Plan plus 0.40% AUM fee, $0/year Premium at $100K+, for US Managed Portfolios) and no CAD fees appear on the /ca/halal-invest pages; portfolio management is provided through Corex Financial Inc. - confirm Canadian fees at signup
How it compares
Other investing providers we list in Canada, ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| Manzil Business Account (Non-Registered) (this page) | Wealth Management | Formal Board | every province | A |
| ShariaPortfolio Personal Account (Non-Registered) | Wealth Management | Third-Party Certified | 4 provinces | — |
| Assad Wealth Management Wealth Management | Wealth Management | No Public Review | 10 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 Manzil products
- TFSA - Tax-Free Savings Account
Investing · Wealth Management
- Personal Account (Non-Registered)
Investing · Wealth Management
- Musharaka Mortgage
Home Financing · Diminishing Musharaka
- Wealth Management
Investing · Wealth Management
- FHSA - First Home Savings Account
Investing · Wealth Management
- RRSP - Registered Retirement Savings Plan
Retirement · Wealth Management
- LIRA - Locked-In Retirement Account
Retirement · Wealth Management
- RESP - Registered Education Savings Plan
Investing · Wealth Management
- Murabaha Mortgage
Home Financing · Murabaha
- Manzil Wills - Islamic Will
Wills & Estate Planning · Islamic Will
- Joint Account (Non-Registered)
Investing · Wealth Management
- Manzil Russell Halal USA Broad Market ETF
Investing · Index-based
- RRIF - Registered Retirement Income Fund
Retirement · Wealth Management
Where it's available
Manzil lists the Business Account (Non-Registered) as available in every province.
Availability may vary by product and can change; verify with Manzil before applying.
Frequently asked questions
Is the Manzil Business Account (Non-Registered) halal?
The account wrapper is tax treatment, not the investment - what makes it halal is what's inside: Manzil portfolios hold only AAOIFI-screened securities with no bonds, GICs, or interest-bearing instruments, incidental impure income is quantified for purification, and products are certified by Manzil's Shariah Supervisory Board (Dr. Shaher Abbas, Dr. Contract structure: Wealth Management. Shariah oversight disclosed by Manzil: Formal Board. HalalWallet reports what the provider documents; we do not certify products.
How does the Manzil Business Account (Non-Registered) work?
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.
What does the Manzil Business Account (Non-Registered) cost?
Canadian fee schedule not published on manzil.co (crawled 2026-08-05): the platform's pricing page is US-branded ($48/year Core Plan plus 0.40% AUM fee, $0/year Premium at $100K+, for US Managed Portfolios) and no CAD fees appear on the /ca/halal-invest pages; portfolio management is provided through Corex Financial Inc. - confirm Canadian fees at signup
Where is the Manzil Business Account (Non-Registered) available?
Manzil lists this product as available in every province. Availability can change and may differ by province; verify directly with Manzil.
What are the alternatives to the Manzil Business Account (Non-Registered)?
In the same category we also list ShariaPortfolio Personal Account (Non-Registered), Assad Wealth Management Wealth Management, SPFunds SP Funds S&P World ETF. Compare every option side by side on our Halal Investing hub.
When was this Manzil product information last verified?
HalalWallet last verified the Manzil Business Account (Non-Registered) details against Manzil's published materials on 2026-09-29. 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: 2026-09-29
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