TORONTO, Oct. 26, 2022 (GLOBE NEWSWIRE) — Based in Toronto Manzila technology platform for ethical neo-financial services, today announced the launch of Manzil Invest powered by OneVest Management Inc. (OneVest), Canada’s first actively managed Halal digital investment platform.
The launch of Manzil Invest is an important step for Canadian Muslims seeking to adhere to their religious values. Until today, Canadian Muslims had to make do with their faith by investing through conventional banks and financial institutions that did not understand the principles of Islamic finance and often ended up in investments that were ineligible for them. unknowing.
Currently, access to professionally managed Halal portfolio options through a bank, brokerage or specialist portfolio management stores comes with a significant minimum investment, ranging from $100,000 to $500,000 . This is a significant hurdle as many Muslims are first-time investors as they have avoided participating in financial markets and do not want to fall into the trap of unknowingly investing in prohibited assets.
Manzil is certified as an ethically compliant financial institution that adheres to Halal investment principles. Through Manzil Invest, she actively seeks socially responsible (SRI) investments that are unrelated to the tobacco, alcohol, gun, and adult entertainment industries, to name a few. only a few. These investments are reviewed by a committee of Islamic and ethical scholars to ensure compliance.
“With Manzil invest, we now provide an end-to-end Halal digital investment platform that is accessible across the country and easy to use so that Canadian Muslims can have peace of mind that their money is being invested in a manner that aligns with their faith, says Dr. Mohamad Sawwaf, “Founder and CEO of Manzil.
The latest census estimates put the Canadian Muslim population at around 2 million, rising to 3 million by 2030, making it the fastest growing and second largest religious base in the country. Conservative estimates suggest that the Canadian Muslim wealth management opportunity is around $20 billion.
Through Manzil Invest, clients have access to:
Actively managed and institutional style portfolios, managed by professional fund managers who take advantage of changing market conditions with the aim of achieving higher returns with lower risk
Access to alternative investments such as physical precious metals, Shariah-compliant real estate, Shariah-compliant mortgages, etc.
Ability to start investing with as little as $1 and get a complete and fully diversified portfolio
Personalized wallets that are built and managed to a user’s unique goals, timelines, and risk comfort
Automated investing which allows users to automatically schedule investments from other bank accounts
Manzil Invest is available on the Manzil website and may be funded by direct deposits from another financial institution.
Manzil is a privately held Canadian company and Canada’s only Islamic neo-financial services platform that manufactures and distributes halal financial solutions, including home financing and investment funds. It was founded in 2017 and is headquartered in Toronto, Canada.
Manzil Invest is associated with OneVest, a registered portfolio manager in each province and territory of Canada and an investment fund manager in the provinces of Alberta, Newfoundland and Labrador, Ontario and Quebec. All assets are held by CI Investment Services (CIIS), a registered investment dealer in Canada, which is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). ). Investment accounts receive CIPF protection within specific limits of up to $1 million.
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For more information, please visit www.manzil.ca