Manzil RRSP - Registered Retirement Savings Plan

Halal Retirement Accounts in Nova Scotia

Manzil's RRSP finally lets observant Canadians capture the country's biggest tax deduction without holding interest-bearing funds: contributions are tax-deductible (2026 limit: $33,810 or 18% of prior-year earned income, whichever is lower), unused room carries forward indefinitely, and growth compounds tax-deferred until withdrawal. Corex Financial manages the AAOIFI-screened portfolio - screened equities and halal income assets in place of the bond and GIC allocations conventional RRSP portfolios rely on - under Manzil's named three-scholar Shariah Supervisory Board. The account converts to a RRIF or annuity by December 31 of the year you turn 71, with CIRO-member custody and CIPF coverage.

Manzil's RRSP addresses a problem observant Canadian Muslims have faced for years: capturing the RRSP deduction without holding interest-bearing funds, since conventional RRSP portfolios lean heavily on bonds and GICs. Contributions cut your tax bill now - up to $33,810 for 2026 - and grow tax-deferred inside AAOIFI-screened portfolios managed by Corex Financial, with a named three-scholar Shariah board certifying the products and external Shariah audits in the governance model. Withdrawals are taxed as income later, which is the point of the deferral but does commit the money until retirement, and Canadian fees are unpublished. Best for middle- and higher-income earners for whom the deduction outweighs the TFSA's flexibility.