Investing · ShariaPortfolio
ShariaPortfolio RESP - Registered Education Savings Plan
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 RESP pairs federal education money with halal management: the Canada Education Savings Grant adds 20% on the first $2,500 contributed each year (up to $7,200 lifetime per child), growth compounds tax-deferred, and the portfolio holds no bond funds or GICs - only AAOIFI-screened equities, Islamic funds, and sukuk. Active or passive strategies are matched to the child's timeline, and the Canadian team runs RESP-specific education webinars. Custody sits at Fidelity Clearing Canada ULC, advisors serve BC, Alberta, Ontario, and Quebec, and the mobile app works in English, French, and Arabic. Fees and minimums are not published.
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What is the ShariaPortfolio RESP - Registered Education Savings Plan?
ShariaPortfolio Canada's RESP pairs federal education money with halal management: the Canada Education Savings Grant adds 20% on the first $2,500 contributed each year (up to $7,200 lifetime per child), growth compounds tax-deferred, and the portfolio holds no bond funds or GICs - only AAOIFI-screened equities, Islamic funds, and sukuk. Active or passive strategies are matched to the child's timeline, and the Canadian team runs RESP-specific education webinars.
- 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
ShariaPortfolio Canada's RESP pairs the grant-and-deferral benefits of education saving with portfolios that carry formal Sharia compliance opinions - solving the standard dilemma where capturing the government's 20% CESG match means accepting a bond-heavy conventional education fund. Here the fixed-income role is filled by sukuk and Islamic funds under AAOIFI rules, with active or passive strategies calibrated to the child's timeline and a named Canadian team that runs education-savings webinars. Oversight runs through third-party certification rather than a standing in-house board, which some families will want to weigh, and fees are only disclosed in consultation. Best for parents and grandparents who want a Shariah-screened education fund with professional management and the grant money captured.
Strengths
- Education savings with access to government grants and tax-deferred growth
- Portfolios screened by ShariaPortfolio Canada under AAOIFI standards
- CESG adds 20% on the first $2,500 contributed each year - up to $7,200 lifetime per child
- Custody at Fidelity Clearing Canada ULC, a CIRO-regulated custodian in the Fidelity group
Watch-outs
- Purpose-built for education costs rather than general saving
- Oversight is 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 RESP - Registered Education Savings Plan 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. The RESP wrapper adds government grants on top of halal investments.
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
- Education savings with federal government grants layered on top of halal investments
- Tax-deferred growth inside a fully AAOIFI-screened portfolio - no bond funds or GICs
- Active or passive managed strategies matched to the child's timeline
- Custody at Fidelity Clearing Canada ULC, a regulated Canadian custodian
- Advisors serving BC, Alberta, Ontario, and Quebec; RESP-specific education webinars from the Canadian team
- Mobile app access 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 RESP - Registered Education Savings Plan (this page) | Wealth Management | Third-Party Certified | 4 provinces | — |
| Manzil RESP - Registered Education Savings Plan | Wealth Management | Formal Board | every province | A |
| Wahed FTSE USA Shariah ETF | Index-based | Third-Party Certified | 10 provinces | B |
| 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 | — |
Other ShariaPortfolio products
- Wealth Management
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
- Personal Account (Non-Registered)
Investing · 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 RESP - Registered Education Savings Plan as available in 4 provinces.
Availability may vary by product and can change; verify with ShariaPortfolio before applying.
Frequently asked questions
Is the ShariaPortfolio RESP - Registered Education Savings Plan 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 RESP - Registered Education Savings Plan work?
ShariaPortfolio Canada's RESP pairs federal education money with halal management: the Canada Education Savings Grant adds 20% on the first $2,500 contributed each year (up to $7,200 lifetime per child), growth compounds tax-deferred, and the portfolio holds no bond funds or GICs - only AAOIFI-screened equities, Islamic funds, and sukuk. Active or passive strategies are matched to the child's timeline, and the Canadian team runs RESP-specific education webinars.
What does the ShariaPortfolio RESP - Registered Education Savings Plan 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 RESP - Registered Education Savings Plan 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 RESP - Registered Education Savings Plan?
In the same category we also list Manzil RESP - Registered Education Savings Plan (HalalWallet Index A), Wahed FTSE USA Shariah ETF (HalalWallet Index B), Assad Wealth Management Wealth Management. Compare every option side by side on our Halal Investing hub.
When was this ShariaPortfolio product information last verified?
HalalWallet last verified the ShariaPortfolio RESP - Registered Education Savings Plan 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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