Purify your wealth while giving hope to those in need

Canadas only Halal Finance Hub

Canadas only Halal Finance Hub

Perform your religious obligation of donating 2.50% of your wealth through Zakat al-Maal or Almsgiving.

Your life’s dreams and goals aligned with your beliefs and values.

Your life’s dreams and goals aligned with your beliefs and values.

What is Zakat?

Accounts are CIPF Insured

Accounts are CIPF Insured

Zakat is the amount of money that every adult, mentally stable, free, and financially able Muslim, male and female, has to pay to support specific categories of people. To learn more, scroll down to Zakat 101 below.

Halal investing is of two types primarily, investing in companies, also known as equities or stocks, and income investments like investing in Sukuks (Islamic bonds) or real estate. Both types of investments have to be in line with Islamic principles for them to be Halal.**

Halal investing is of two types primarily, investing in companies, also known as equities or stocks, and income investments like investing in Sukuks (Islamic bonds) or real estate. Both types of investments have to be in line with Islamic principles for them to be Halal.**

Mufti Faraz Adam

Accounts are CIPF Insured

Accounts are CIPF Insured

Mufti Faraz Adam is a globally recognized expert in Islamic Finance, Islamic Social Finance & Islamic FinTech. He is advising several global Islamic financial institutions spread across the UK, US, Canada, Malaysia, Singapore, UAE and other countries. He recently authored a book on Islamic Fintech called ‘Introduction to Islamic Fintech’, and has written several research papers on Islamic Finance and complex products.

Halal investing is of two types primarily, investing in companies, also known as equities or stocks, and income investments like investing in Sukuks (Islamic bonds) or real estate. Both types of investments have to be in line with Islamic principles for them to be Halal.**

Halal investing is of two types primarily, investing in companies, also known as equities or stocks, and income investments like investing in Sukuks (Islamic bonds) or real estate. Both types of investments have to be in line with Islamic principles for them to be Halal.**

Zakat 101

Halal with Proof, and without a Doubt

Halal with Proof, and without a Doubt

The basics of Zakat. When, how, and who is eligible for zakat al-maal.

Don’t just take our word for it, our products have been reviewed by third-party Shariah-compliance experts.

Don’t just take our word for it, our products have been reviewed by third-party Shariah-compliance experts.

Passage of One Lunar Year

Shariah Supervisory Board

Shariah Supervisory Board

Zakat is obligatory after a time span of one lunar year passes from when a person initially owns wealth that equals the Nisab (threshold). Then, the owner needs to pay 2.5% (or 1/40) on the money in their possession at the end of the lunar year. A lunar year is approximately 355 days.

As part of our Shariah Governance, which strictly adheres to the AAOIFI standards, this is one of three layers that Manzil is implementing to continually build and establish trust and credibility amongst our users and clients.

As part of our Shariah Governance, which strictly adheres to the AAOIFI standards, this is one of three layers that Manzil is implementing to continually build and establish trust and credibility amongst our users and clients.

Deduction of Debts

External Independent Scholars

External Independent Scholars

The owner should deduct any amount of money he or she borrowed from others; then check if the rest reaches the necessary Nisab then pay Zakat for it. If the owner had enough money to satisfy the Nisab at the beginning of the year, then the money increased (in profits, salaries, inheritance, grants, etc.), the owner needs to add the increase to the Nisab amount that they owned at the beginning of the year as long as they are still in ownership of it at the end of the year. Then, the owner pays Zakat (2.5%) of the total at the end of the lunar year. There are small differences in the Fiqh schools here - it is best to work out the details with your Local Mufti or Imam.

The highly regarded and renowned Mufti Ebrahim Desai reviewed Manzil’s contracts. Mufti Desai deemed Manzil the first truly Halal home financing solution in Canada. Learn more about why this Scholars fatwa matters.

The highly regarded and renowned Mufti Ebrahim Desai reviewed Manzil’s contracts. Mufti Desai deemed Manzil the first truly Halal home financing solution in Canada. Learn more about why this Scholars fatwa matters.

Each individual is responsible for their own Zakat

AAOIFI Compliance

AAOIFI Compliance

Each Muslim calculates his or her own Zakat individually. For most purposes this involves the payment each year of two and a half percent of one’s capital. A pious person may also give as much as he or she pleases as Sadaqa, and does so preferably in secret. Although this word can be translated as ‘voluntary charity’ it has a wider meaning. The Prophet (SAW) said, ‘Even meeting your brother with a cheerful face is charity.’

We’re not just AAOIFI compliant, we’re Canada’s first AAOIFI member. Learn more about what AAOIFI is and why it matters.

We’re not just AAOIFI compliant, we’re Canada’s first AAOIFI member. Learn more about what AAOIFI is and why it matters.

The common categories of people eligible for Zakat in Canada

The common categories of people eligible for Zakat in Canada

Fakir: One who has neither material possessions nor means of livelihood.

Miskin: One with insufficient means of livelihood to meet basic needs.

Gharmin: One who is in debt (money borrowed to meet basic, Halal expenditure).

Ibn Sabil: One who is stranded.

Zakat Calculator

Assets

Cash

Gold

Silver

Debts Owed

Stocks Long

Stocks Short

RRSP

RESP

Crypto

Properties

Business Assets

Liabilities and Deductions

Personal Liabilities

Business Liabilities

Results

Estimated Zakat Due

Estimated Zakat Due

$0

Total Assets

Total Assets

$0

Total Liabilities

Total Liabilities

$0

Zakatable Assets

Zakatable Assets

$0

View Legal Disclaimer

The above calculation is based on the accuracy and completeness of the data you have entered, is for illustrative and for informational purposes and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. This calculation assumes a constant financing/profit rate throughout the term period and that the financing/profit rate is compounded annually, not in advance. The mortgage payment amount may vary according to certain variables entered into the calculator and may not provide the precise dollar amount of your mortgage payment. The results will give you a general idea of the basic mortgage amount and mortgage payment amount based upon the information you have entered. Manzil does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator. Manzil uses reasonable efforts to include accurate and up-to-date information in this calculator, but cannot guarantee that all information is accurate, complete or current at all times. Please speak with your mortgage broker to assist you with determining what you can afford.

Give your Zakat today!

Explore giving your Zakat with one of our partners today. Click on the partner to learn more and give your Zakat.

Your support can provide life-changing assistance to women and families across Canada. Partner with us and help fund essential programs by Sakeenah, dedicated to providing safe transitional housing, critical resources, and community support for vulnerable individuals.

Safe Transitional Homes

The People's Market

Child & Youth Programs

Trusted, Zakat-eligible charity

The Manzil Foundation in partnership with UNHCR, will provide housing, education, and stability while supporting sustainable giving through Waqf endowments and halal microfinance for small businesses.

Together with UNHCR, the Foundation uplifts refugees and vulnerable communities, ensuring access to dignified living, education, and economic opportunities.

100% distributed to displaced persons

Zakat Fund is Sharia compliant

60% of today’s refugees and IDPs are from OIC countries and fall under 4 out of 8 Zakat categories

Got questions? We can answer them. Investment related questions may be directed to OneVest.

Read through our Help Center or reach out to our team to learn more about our products

Got questions?
We can answer them.

Read through our Help Center or reach out to our team to learn more about our products

Got questions? We can answer them. Investment related questions may be directed to OneVest.

Read through our Help Center or reach out to our team to learn more about our products

Your life’s dreams and goals aligned with your beliefs and values

Associate member

Manzil Mortgage Services Inc. holds the following licenses: Ontario # 13411, British Colombia # MB601417, Saskatchewan # 512027, Nova Scotia # 2022-3000552, and Alberta.

© 2024 All rights reserved. Manzil is a registered trademark

Your life’s dreams and goals aligned with your beliefs and values

Associate member

Manzil Mortgage Services Inc. holds the following licenses: Ontario # 13411, British Colombia # MB601417, Saskatchewan # 512027, Nova Scotia # 2022-3000552, and Alberta.

© 2024 All rights reserved. Manzil is a registered trademark

Your life’s dreams and goals aligned with your beliefs and values

Associate member

Manzil Mortgage Services Inc. holds the following licenses: Ontario # 13411, British Colombia # MB601417, Saskatchewan # 512027, Nova Scotia # 2022-3000552, and Alberta.


© 2024 All rights reserved. Manzil is a registered trademark