Home Financing · Manzil
Manzil Murabaha Mortgage
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.
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).
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 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. 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.
- Contract structure: Murabaha.
- Amounts: 100000 to 1500000.
- Available in Ontario.
- Shariah oversight disclosed: Formal Board.
- HalalWallet Index grade for Manzil in Home Financing: A.
- Verified against Manzil's published materials on 2026-09-29.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Murabaha
- Minimum amount
- 100000
- Maximum amount
- 1500000
- Minimum down payment
- 20%
- Terms
- 2-5 year terms, Amortization up to 25 years
- Minimum credit score
- 680
- Availability
- Ontario
- Shariah oversight
- Formal Board
- Shariah board
- Formal Board
- Provider founded
- 2019
- 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
For buyers who prefer the certainty of a resale contract over co-ownership mechanics, Manzil's Murabaha fixes the total price once at signing and repays it in equal instalments, with the same dual-layer Shariah certification as its Musharaka product - an AAOIFI-aligned supervisory board plus Darul Iftaa Mahmudiyyah. There is no separate Murabaha rate sheet, so expect the markup to be quoted individually against the Musharaka sheet's 5.90%-6.20% range, and note Manzil's stated position that early settlement carries no prepayment penalty. Qualification is demanding - 20% down, a 680 credit score, and Ontario-only availability for now. Fits Ontario buyers with strong files who want maximum contractual clarity in their halal financing.
Strengths
- Fixed-instalment Murabaha: Manzil buys the property and resells it at a transparent, agreed profit - no interest at any point
- Certified by Manzil's Shariah Supervisory Board with external review by Mufti Ebrahim Desai (Darul Iftaa Mahmudiyyah)
- Financing from $100K to $1.5M with amortization up to 25 years
- No prepayment penalty per Manzil's published Murabaha position - settling early does not add cost
Watch-outs
- Currently offered only in Ontario
- 20% minimum down payment and a 680 minimum credit score set a high entry bar
- 2-5 year terms mean pricing resets at each renewal
Is the Manzil Murabaha Mortgage halal?
A Murabaha (cost-plus resale) contract: Manzil buys the home and resells it to you at a disclosed markup paid in instalments - profit from a real asset sale, not interest on a loan. The product carries a published Shariah Supervisory Board certificate plus independent third-party certification from Darul Iftaa Mahmudiyyah issued by the late Mufti Ebrahim Desai, and Manzil structures governance on AAOIFI's three layers (board, external audit, internal compliance). Manzil's own primer on Murabaha stresses the sale-not-loan distinction and states there are no prepayment penalties - the markup is earned by the sale, so settling early does not add cost.
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
- Murabaha cost-plus resale: Manzil buys the home and resells it at a disclosed markup repaid in fixed instalments
- Total cost agreed upfront - profit from a real asset sale, not interest on a loan
- Funded by the Manzil Mortgage Fund, a Shariah-compliant investor pool
- Published SSB certificate for Ontario plus independent certification by Mufti Ebrahim Desai (Darul Iftaa Mahmudiyyah)
- Alternative to Manzil’s flagship Musharaka co-ownership product
Cost and terms
No separate Murabaha rate sheet - Manzil's published sheet (manzil.ca/rates, effective July 23, 2026) covers the Musharaka program (5.90%-6.20% by term); the Murabaha markup is agreed once at signing and repaid in fixed instalments. Financing CAD $100,000-$1,500,000; 20% minimum down payment; 680 minimum credit score; 2-5 year terms with amortization up to 25 years; currently Ontario only. One-time administrative fee of typically 2% of the financing amount at closing. (verified 2026-08-05)
How it compares
Other home financing providers we list in Canada, ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| Manzil Murabaha Mortgage (this page) | Murabaha | Formal Board | Ontario | A |
| IjaraCDC Mortgage Switch / Transfer | Ijara | Formal Board | every province | A |
| Tjara Halal Financing Home Financing | Musharaka | Formal Board | 10 provinces | B+ |
| Eqraz Home Financing | Murabaha | Third-Party Certified | 10 provinces | B |
| Servus Credit Union Home Financing | Murabaha | Third-Party Certified | Alberta | 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
- Business Account (Non-Registered)
Investing · Wealth Management
- LIRA - Locked-In Retirement Account
Retirement · Wealth Management
- RESP - Registered Education Savings Plan
Investing · Wealth Management
- 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 Murabaha Mortgage as available in Ontario.
Availability may vary by product and can change; verify with Manzil before applying.
Frequently asked questions
Is the Manzil Murabaha Mortgage halal?
A Murabaha (cost-plus resale) contract: Manzil buys the home and resells it to you at a disclosed markup paid in instalments - profit from a real asset sale, not interest on a loan. Contract structure: Murabaha. Shariah oversight disclosed by Manzil: Formal Board. HalalWallet reports what the provider documents; we do not certify products.
How does the Manzil Murabaha Mortgage work?
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.
What does the Manzil Murabaha Mortgage cost?
No separate Murabaha rate sheet - Manzil's published sheet (manzil.ca/rates, effective July 23, 2026) covers the Musharaka program (5.90%-6.20% by term); the Murabaha markup is agreed once at signing and repaid in fixed instalments. Financing CAD $100,000-$1,500,000; 20% minimum down payment; 680 minimum credit score; 2-5 year terms with amortization up to 25 years; currently Ontario only. One-time administrative fee of typically 2% of the financing amount at closing. (verified 2026-08-05)
What are the minimums for the Manzil Murabaha Mortgage?
As published by Manzil: minimum amount 100000; maximum 1500000; minimum down payment 20%; minimum credit score 680. Confirm current requirements with Manzil before applying.
Where is the Manzil Murabaha Mortgage available?
Manzil lists this product as available in Ontario. Availability can change and may differ by province; verify directly with Manzil.
What are the alternatives to the Manzil Murabaha Mortgage?
In the same category we also list IjaraCDC Mortgage Switch / Transfer (HalalWallet Index A), Tjara Halal Financing Home Financing (HalalWallet Index B+), Eqraz Home Financing (HalalWallet Index B). Compare every option side by side on our Halal Home Financing hub.
When was this Manzil product information last verified?
HalalWallet last verified the Manzil Murabaha Mortgage 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
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.