At Manzil, you can choose between halal financing for your home, or investing in our Mortgage Fund for a stable and halal return on your investment.

Some of What Makes Us Halal?

Halal & Ethical Screening
Halal & Ethical Screening

Our products are end-to-end halal, which simply means permissible and in compliance with Islamic Shariah Law. This prohibits us from investing in businesses that profit from things like alcohol, tobacco, drugs, weapons, gambling, and adult entertainment.

Shared Risk
Shared Risk

Most lenders are in the business of maximizing their profits, while keeping risk at a minimum, irrelevant of how much that may end up costing you. With Manzil, risk is shared with out extra costs and penalties.

Asset-Backed Transactions
Asset-Backed Transactions

If we go out of business, it doesn't mean you go out of business. Your investments and financing contracts are backed by tangible assets with a known market value.

Clear & Transparent Contracts
Clear & Transparent Contracts

Our contracts are not one-sided. We ensure that the terms are laid up front and are fair, clear, and easy to understand for the borrower or investor.

Your Data is Secure, Safer than Banks

Manzil encrypts and protects your information better than the banks.

  • Safer than your banks data encryption
  • 256-bit Data-Encryption
  • Multi-Factor Authentication

Select Your Financial Product of Interest

Finance Halal

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Finance your halal home in 4 easy steps:

  • 1 Submit an application with Manzil
  • 2 Get approved
  • 3 Choose a property and agree on a price with Manzil
  • 4 Manzil actually purchases the property and sells it back to you, registered in your name and the sale is recorded in a murabaha mortgage contract
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Invest Halal

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Start earning halal money in 4 easy steps:

  • 1 Register with our investment partner
  • 2 Open your account with our investment partner
  • 3 Deposit money or transfer your current investment portfolio to Manzil for free
  • 4 Start earning a halal return on your investment
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Our Islamic Financial Services FAQs

Finance Halal 1. What makes the Manzil Mortgage Product Halal?

Our scholars from Islamic Finance Advisory & Assurance Services or IFAAS, have critically reviewed all the documents pertaining to our Islamic mortgages and finance products, and they have certified that this fund meets the strict Shariah standards of the Accounting and Auditing Organizations of Islamic Financial Institutions (AAOIFI).

Finance Halal 2. Are Manzil's rates cheaper than my local banks?

If we’re looking at an ‘apples to apples’ comparison, the Manzil murabaha mortgage product is in fact cheaper! Here is a comparison of how our open fixed rates compare to other lenders open fixed rates. Unfortunately other lenders do not have many term options when it comes to open rate mortgages, but Manzil has every term possible from 1 year to 25 years.
Term Manzil Other Lenders*
1 year 3.49% 4.50% - 7.25%
5 year 3.49% 5.75%
10 year 3.99% unavailable
15 year 4.49% unavailable
18 year 4.79% 8.50%
25 year 5.49% unavailable
*1 and 18 year rates taken from www.ratehub.ca and 5 year (variable open) from www.lowestrates.ca as of October 10, 2019

Finance Halal 3. Is Manzil’s mortgage an open or closed one?

Because we cannot charge penalties for exiting your contract early, all of Manzil’s mortgage products are considered to be open. An open mortgage gives homeowners the flexibility to pay off their mortgage at any time. A closed mortgage is a little more strict -- if you pay it off before the mortgage term ends, you have to pay a penalty.

Finance Halal 4. Is it variable or fixed and why does this matter?

The Manzil Murabaha halal mortgage product is considered a fixed product with a fixed term. Because we sell the property back to you for an agreed-upon price, this means that your costs will never change for the entire term.

Invest Halal 5. What makes the Manzil Mortgage Investment Fund Halal?

Our scholars from the Islamic Finance Advisory and Assurance Services (IFAAS) have critically reviewed all the documents pertaining to this fund and they have certified that this fund meets the strict Shariah standards of the Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI).

Invest Halal 6. What kind of Investment return can I expect?

Although we cannot predict or guarantee returns, the Manzil Mortgage Fund’s target return is 4.00% per year, paid quarterly.

7. Do I have to be Muslim to Finance or Invest?

Absolutely not! We do not limit financing or investing to people based on their religion, race, gender, or creed. We welcome everyone to explore Islamic banking in Canada and our exceptional service. In fact, many non-Muslims find our products to be very competitive and appealing due to the ethical standards we’ve established.

8. Are your financial products AAOIFI compliant and why is this important?

Yes! In fact, the Manzil Mortgage Product is the only AAOIFI Standard Certified Halal Mortgage in all of Canada. Being AAOFI compliant means that you, the customer, can rest assured that every aspect of Manzil's Mortgage product is adhering to strict shari'ah guidelines to ensure a 100% interest-free, halal product. AAOIFI, established in 1991 and based in Bahrain, is the leading international not-for-profit organization primarily responsible for development and issuance of standards for the global Islamic finance industry. It has issued a total of 100 standards in the areas of Shari’ah, accounting, auditing, ethics and governance for international Islamic finance.

9. Who are your Islamic Scholars?

We have partnered with  the world renowned Islamic Finance Advisory and Assurance Services. The team consists of scholars for certification, auditors, and finance managers.

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