Manzil
4.4
Fair Meridian editorial scoreToronto-founded Islamic fintech expanding to the US. Currently offering Sharia-compliant investing via Manzil Invest USA (powered by Alpaca) and its Nasdaq-listed ETF (MNZL). Halal mortgages, banking, and wills in development for the US market.
Reviewed by Fair Meridian: February 2026
Profit Rate
Contact for rates
Min Down
-1%
States Served
All 50 States
Overall Rating
4.4/5
About Manzil
Manzil was founded in Toronto in 2017 with the mission of being the halal version of Wealthsimple — a full-service Islamic neobank spanning home financing, investing, wealth management, and Islamic wills. After establishing significant Canadian operations (crossing $100M CAD in assets under management and operating in four Canadian provinces), Manzil entered the US market by acquiring SEC-registered Aghaz Investment Advisors.
In the United States, Manzil currently offers Manzil Invest USA — a Sharia-compliant investing platform providing both self-directed trading and robo-managed portfolios powered by Alpaca Securities. All securities are pre-screened using both AAOIFI standards and the American Friends Service Committee (AFSC) human rights criteria, making Manzil one of the few US halal investing platforms using dual-certification screening.
In addition to managed portfolios, Manzil launched the Manzil Russell Halal USA Broad Market ETF (MNZL) on Nasdaq, giving investors one-ticket broad market exposure with AAOIFI and AFSC ethical overlays. Manzil's US roadmap includes halal mortgages (using Musharakah and Murabaha structures proven in Canada) and eventually a full Islamic banking offering with halal checking and savings accounts.
For US Muslim investors, Manzil represents a newer but rapidly growing option, backed by significant Canadian institutional experience and a clear vision for becoming North America's first true Islamic neobank.
Founded2017 (9 years in business)
Sharia CertificationAAOIFI + AFSC
Certified Since2017
HeadquartersFrisco, TX
NMLS License#1925076 — Verify on NMLS ↗
Fair Meridian Analysis
Manzil occupies a unique position among US Islamic finance providers: it is the only provider building toward a genuinely integrated Islamic neobank experience — investing, mortgages, banking, and wills under one platform.
The neobank vision: Existing US Islamic finance providers are specialists — Guidance Residential does mortgages, Wahed Invest does investing, Devon Bank does banking. None of them connect these services into an integrated digital experience. Manzil's explicit goal is to be the halal Wealthsimple — an app where a Muslim American can manage their entire financial life in one Sharia-compliant place.
The AAOIFI + AFSC dual screening: Manzil uses both AAOIFI standards and the American Friends Screening Committee (AFSC) criteria — making it one of the few US halal investing platforms with dual-certification. This extra layer of screening gives Manzil additional credibility with Muslim investors who are skeptical of single-standard compliance claims.
The Canadian proven model: Manzil's Canadian operations have crossed $100M CAD in AUM with halal mortgages operating in four provinces. This institutional track record and operational expertise distinguishes Manzil from US-only startups building halal finance from scratch.
Who is Manzil best for? Manzil is best for US Muslim investors who want a modern digital-first halal investing experience, investors who want to support a platform with an ambitious integrated Islamic finance vision, and Canadian Muslims relocating to the US who already know the brand.
Analysis updated: February 2026
Products & Financing Structures
investing
Manzil Invest USA
Sharia-compliant investment portfolios and self-directed trading for US investors. Powered by Alpaca brokerage infrastructure. Dual-certified by AAOIFI standards and AFSC criteria. Features a 0.40% AUM fee plus $48/year (waived for accounts $100k+).
Profit Rate: Contact for ratesMin Down: -1%Terms: 1, 3, 5 years
Sharia Compliance: All products are structured to avoid Riba (interest), Gharar (excessive uncertainty), and Maysir (speculation) in accordance with Islamic jurisprudence.
Serves All 50 US States
Manzil is licensed in all 50 US states. See local provider options and state-specific regulations for the most active Islamic finance markets:
Independent Rating Breakdown
Overall Score
4.4
Sharia Compliance
4.7
Transparency
4.6
Customer Service
4.2
Rate Competitiveness
4.1
👍 Recommended
Manzil scores highly on Sharia compliance verification and product transparency. Independently verified by the Fair Meridian team.
Ratings based on Fair Meridian's independent review process. Not influenced by advertising or provider payments.
Expert Verdict
Manzil is our recommendation for US Muslim investors who want a modern, digital-first halal investing platform with strong Sharia credentials. Its Canadian track record, AAOIFI + AFSC dual screening, and roadmap toward integrated Islamic banking make it one of the most promising new entrants in the US Islamic finance market. Currently investing-only in the US — mortgages coming.
Verdict issued: February 2026
Sharia Advisory Board
AAOIFI & AFSC Dual Certification
External Sharia Compliance & Ethical Screening
All Manzil Invest USA securities are pre-screened using both AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) standards and American Friends Service Committee (AFSC) human rights criteria — dual certification providing enhanced compliance assurance.
Frequently Asked Questions — Manzil
As of 2026, Manzil offers Manzil Invest USA — a Sharia-compliant investing platform for US investors. All securities are pre-screened using both AAOIFI standards and AFSC criteria. Manzil is actively planning to launch halal mortgages (using Musharakah and Murabaha structures) and eventually an Islamic banking offering in the US, following its proven Canadian playbook.
Manzil was founded in Toronto, Canada in 2017 and is expanding into the United States. Its Canadian operations include halal mortgages in four provinces (British Columbia, Alberta, Ontario, and Quebec) and over $100M CAD in assets under management. The US platform launched with investing as the first product, with mortgages and banking to follow.
Manzil screens all investments using both AAOIFI (the international Islamic finance standard-setting body) standards and the American Friends Screening Committee (AFSC) criteria. AAOIFI provides the core Islamic finance compliance framework. AFSC adds additional ethical screening criteria. Using both standards simultaneously gives Manzil's screening more rigor than providers using a single standard alone.
Manzil has not announced a specific timeline for US halal mortgage launch. The company has stated it will follow 'a similar playbook' to Canada — investing first, then mortgages, then banking. Given that its Canadian mortgage operations are well-established, US mortgage availability could come within 1-2 years. Check Manzil's website for current product availability.
Manzil Invest USA has a minimum investment of $100, comparable to Wahed Invest. This low minimum makes it accessible for US Muslim investors at any income level. Contact Manzil directly or visit manzil.us for current pricing, portfolio options, and fee structure.
Customer Reviews
Similar Providers You Might Consider
Saturna Capital — Amana Funds
Verified4.7
The longest-running halal investment funds in the United States, founded 1986. Saturna Capital manages the Amana Funds — four AAOIFI-aligned halal mutual funds with approximately $9 billion in assets under management.
Profit Rate
Contact for rates
Min Down
Contact
Wahed Invest
Verified4.6
The largest Sharia-compliant robo-advisor in the world. Wahed Invest offers halal investing through diversified portfolios of ethical stocks, sukuk, and gold — available to all US investors.
Profit Rate
Contact for rates
Min Down
Contact
Zoya Finance
Verified4.6
New York-based halal stock screener app founded in 2019. Screens 12,000+ US, UK, and Canadian stocks using AAOIFI methodology. Over $1 billion in assets tracked by Zoya users. Includes Zakat calculator and brokerage integration for commission-free halal investing.
Profit Rate
Contact for rates
Min Down
Contact