Investing · ShariaPortfolio
ShariaPortfolio Personal Account (Non-Registered)
Co-Founder & CEO, HalalWallet
Facts are re-verified against ShariaPortfolio's published materials; this page updates when the provider's terms, rates, or coverage change.
ShariaPortfolio Canada's non-registered personal account is for investors who have used their TFSA, RRSP, and FHSA room - or who want unrestricted access to their money - with every dollar still managed under AAOIFI screening. There are no contribution limits or withdrawal restrictions, and the portfolio excludes interest-paying securities, preferred shares, and the group's extended prohibition list including music, cinema, and broadcasting. Choose an active strategy run by portfolio managers or a passive mix of halal ETFs. Gains and income are taxed annually. Custody is at Fidelity Clearing Canada ULC, with advisors in BC, Alberta, Ontario, and Quebec.
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What is the ShariaPortfolio Personal Account (Non-Registered)?
ShariaPortfolio Canada's non-registered personal account is for investors who have used their TFSA, RRSP, and FHSA room - or who want unrestricted access to their money - with every dollar still managed under AAOIFI screening. There are no contribution limits or withdrawal restrictions, and the portfolio excludes interest-paying securities, preferred shares, and the group's extended prohibition list including music, cinema, and broadcasting.
- Contract structure: Wealth Management.
- Available in 4 provinces.
- Shariah oversight disclosed: Third-Party Certified.
- Verified against ShariaPortfolio's published materials on 2026-08-05.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Wealth Management
- Screening method
- AAOIFI - under 5% impure revenue; interest-bearing debt below 30-33% of market cap; music/cinema/broadcasting excluded
- Availability
- 4 provinces
- Shariah oversight
- Third-Party Certified
- Shariah board
- Third Party Certified
- Last verified
- 2026-08-05
Facts are taken from ShariaPortfolio's published product materials and were last verified on 2026-08-05. Fields the provider does not publish are omitted rather than estimated.
Our take
A non-registered account for investors who've used their registered room: no caps, no restrictions, with ShariaPortfolio Canada's screening and formal compliance opinions behind the portfolio and a real choice between active management and a passive halal ETF strategy. The AAOIFI screen is stricter than most Canadian alternatives - music, cinema, and broadcasting are excluded alongside interest-based businesses - and incidental impure income is purified quarterly. Annual taxation of gains and income is the unavoidable trade-off of the wrapper, and the firm's unpublished fee schedule means the true cost only emerges in consultation. Best for investors past their TFSA and RRSP limits who want continued halal exposure with an advisor relationship rather than a self-serve app.
Strengths
- Full flexibility - no contribution limits or withdrawal restrictions
- Portfolios screened with formal Sharia compliance opinions
- Choice of active portfolio management or a passive halal ETF strategy
- Custody at Fidelity Clearing Canada ULC, a CIRO-regulated custodian in the Fidelity group
Watch-outs
- No tax advantages - gains and income are taxed annually
- Third-party certification rather than an in-house formal Shariah board
- No fees or minimums published - confirm pricing in the initial consultation
Is the ShariaPortfolio Personal Account (Non-Registered) halal?
Managed under AAOIFI standards: portfolios hold only Shariah-screened stocks, sukuk, and Islamic funds - never conventional bonds, preferred shares, or interest-bearing instruments. Companies earning over 5% of revenue from prohibited industries or carrying interest-bearing debt above 30–33% of market capitalization are excluded, residual impure income is purified quarterly, and Shaykh Umer Khan (mufti, Wharton MSF) serves as Sharia Advisor.
Shariah oversight disclosed by ShariaPortfolio
ShariaPortfolio Canada provides Sharia screening and compliance review for investment portfolios and issues formal Sharia compliance opinions (fatwas).
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Fully flexible non-registered investing - no contribution limits or withdrawal restrictions
- AAOIFI-screened portfolio: no interest-paying securities, preferred shares, or excluded industries (including music/cinema/broadcasting)
- Choice of active or passive managed strategies
- Custody at Fidelity Clearing Canada ULC; advisors in BC, Alberta, Ontario, and Quebec
- Mobile app for accounts, portfolios, and resources
- Service available in English, French, and Arabic
Cost and terms
No management fees or account minimums published on shariaportfolio.ca (crawled 2026-08-05) - Canadian pricing is disclosed in the initial consultation; for reference, the US affiliate uses tiered asset-based fees with a $100,000 minimum for its advisor-led Access program and $1,000 for its Express robo tier - confirm CAD fees and minimums directly
How it compares
Other investing providers we list in Canada, ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| ShariaPortfolio Personal Account (Non-Registered) (this page) | Wealth Management | Third-Party Certified | 4 provinces | — |
| Manzil Personal Account (Non-Registered) | Wealth Management | Formal Board | every province | A |
| 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 ShariaPortfolio products
- Wealth Management
Investing · Wealth Management
- RESP - Registered Education Savings Plan
Investing · Wealth Management
- TFSA - Tax-Free Savings Account
Investing · Wealth Management
- RRIF - Registered Retirement Income Fund
Retirement · Wealth Management
- IPP - Individual Pension Plan
Retirement · Wealth Management
- Joint Account (Non-Registered)
Investing · Wealth Management
- RRSP - Registered Retirement Savings Plan
Retirement · Wealth Management
- PPP - Personal Pension Plan
Retirement · Wealth Management
- LIRA - Locked-In Retirement Account
Retirement · Wealth Management
- FHSA - First Home Savings Account
Investing · Wealth Management
Where it's available
ShariaPortfolio lists the Personal Account (Non-Registered) as available in 4 provinces.
Availability may vary by product and can change; verify with ShariaPortfolio before applying.
Frequently asked questions
Is the ShariaPortfolio Personal Account (Non-Registered) halal?
Managed under AAOIFI standards: portfolios hold only Shariah-screened stocks, sukuk, and Islamic funds - never conventional bonds, preferred shares, or interest-bearing instruments. Contract structure: Wealth Management. Shariah oversight disclosed by ShariaPortfolio: Third-Party Certified. HalalWallet reports what the provider documents; we do not certify products.
How does the ShariaPortfolio Personal Account (Non-Registered) work?
ShariaPortfolio Canada's non-registered personal account is for investors who have used their TFSA, RRSP, and FHSA room - or who want unrestricted access to their money - with every dollar still managed under AAOIFI screening. There are no contribution limits or withdrawal restrictions, and the portfolio excludes interest-paying securities, preferred shares, and the group's extended prohibition list including music, cinema, and broadcasting.
What does the ShariaPortfolio Personal Account (Non-Registered) cost?
No management fees or account minimums published on shariaportfolio.ca (crawled 2026-08-05) - Canadian pricing is disclosed in the initial consultation; for reference, the US affiliate uses tiered asset-based fees with a $100,000 minimum for its advisor-led Access program and $1,000 for its Express robo tier - confirm CAD fees and minimums directly
Where is the ShariaPortfolio Personal Account (Non-Registered) available?
ShariaPortfolio lists this product as available in 4 provinces. Availability can change and may differ by province; verify directly with ShariaPortfolio.
What are the alternatives to the ShariaPortfolio Personal Account (Non-Registered)?
In the same category we also list Manzil Personal Account (Non-Registered) (HalalWallet Index A), 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 ShariaPortfolio product information last verified?
HalalWallet last verified the ShariaPortfolio Personal Account (Non-Registered) details against ShariaPortfolio's published materials on 2026-08-05. 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: 2026-08-05
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