Investing · Manzil
Manzil Personal 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 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.
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 Personal Account (Non-Registered)?
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.
- 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
Manzil's non-registered personal account is the overflow vehicle for Canadians who have maxed their TFSA and RRSP room - no contribution caps, full withdrawal flexibility, and AAOIFI-governed Shariah oversight with a named three-scholar board behind every holding. Corex Financial manages the portfolio, so this is hands-off investing: you set risk tolerance and goals, they run the screened equity and income sleeves. The obvious drawback is taxes, since gains and income receive no shelter, and the Canadian fee schedule is unpublished - the $48/year + 0.40% figures on manzil.co apply to the US platform. Best for investors whose registered accounts are already full but who still want more halal market exposure, or anyone saving for a near-term goal like Hajj who needs the money accessible.
Strengths
- No contribution limits or withdrawal restrictions - invest with full flexibility
- Certified by Manzil's Shariah Supervisory Board to AAOIFI standards
- Available in all 13 Canadian provinces and territories
- Assets held with CIRO-member custodians covered by CIPF protection
Watch-outs
- No tax shelter - gains and investment income are taxable each year
- Limited to Manzil's managed halal portfolio lineup
- Fees aren't published in this listing - confirm current pricing with Manzil
Is the Manzil Personal 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).
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
- Taxable individual account with no contribution limits and no lock-in periods
- Custom portfolio built by Corex Financial to your risk tolerance and goals
- Holds only AAOIFI-screened investments across two buckets: equities and income (real estate/Sukuk)
- Assets held with CIRO-member custodians covered by the Canadian Investor Protection Fund
- Deposit and withdraw any time with no penalties, via the Manzil Invest app
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 Personal 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
- 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
- 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 Personal 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 Personal 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 Personal Account (Non-Registered) work?
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.
What does the Manzil Personal 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 Personal 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 Personal 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 Personal 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
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.