Manzil Wealth Launches Canada’s First Halal Platform, Acquires Canadian Islamic Wealth

Manzil Wealth, a pioneer in Islamic finance, has announced the launch of Canada’s first comprehensive Halal Platform, ushering in a new era of Sharia-compliant financial services. Complementing this milestone, the acquisition of Canadian Islamic Wealth, a well-established halal financial service provider, reinforces Manzil’s commitment to ethical, value-driven finance. Together, these moves mark a significant leap forward for Canada’s growing halal finance industry.

The Halal Finance Platform in Canada

Canada is home to a thriving Muslim community, with an estimated 1.8 million Muslims making up nearly 5% of the population. As the fastest-growing religion in the country, Islam’s demographic influence is undeniable. With this growth comes a pressing need for financial products and services that align with Islamic values, yet Canada’s financial sector has historically been slow to meet these demands.

While mainstream banks offer limited Sharia-compliant options, the launch of the Manzil Wealth Platform fills this gap, providing Canadian Muslims with access to financial solutions that honor their ethical and spiritual beliefs.

The Manzil Wealth Platform is designed as a one-stop solution for Sharia-compliant financial services, offering an array of products that cater to the unique needs of Canadian Muslims. Here’s a closer look at the key features:

1. Halal Investments
   Investments on the platform undergo rigorous screening to ensure compliance with Islamic principles. The platform excludes industries considered haram, such as alcohol, gambling, and tobacco, while focusing on ethical investments in sectors like healthcare, technology, and renewable energy.

2. Sharia-Compliant Mortgages
   One of the most pressing challenges for Muslims in Canada has been the lack of halal mortgage options. The platform addresses this with innovative, interest-free financing models, enabling clients to purchase homes while adhering to Islamic guidelines.

3. Financial Planning
   From retirement savings to education funds, the platform offers personalized plans that help clients build and preserve wealth over the long term, all while staying true to their faith.

4. Financial Technology
   The platform’s user-friendly technology ensures seamless access to financial services, enabling clients to track investments, monitor progress, and make informed decisions.

5. Educational Resources
   Recognizing the importance of financial literacy, the platform offers resources to educate clients on Sharia-compliant finance, ethical investing, and wealth management.

Related: Halal Investing in Canada: Your Complete Guide

As part of its ambitious launch, Manzil Wealth acquired Canadian Islamic Wealth, a respected halal financial service provider based in Winnipeg, Manitoba. Founded by Jesse Reitberger, Canadian Islamic Wealth has played a pivotal role in promoting ethical investing and educating clients about the principles of Sharia-compliant finance. This strategic acquisition expands Manzil Wealth’s reach, bringing together two leaders in the halal finance space.

Reitberger will join Manzil Wealth as Senior Wealth Advisor, where he will oversee the integration of services and help drive the company’s mission to provide innovative, client-focused solutions. Speaking about the partnership, he stated:
“This collaboration allows us to serve our clients better than ever before. By combining resources, we’re offering a broader range of Sharia-compliant services while staying true to our ethical foundations.”

A Growing Market

The global Islamic finance market is projected to grow from $2.2 trillion today to over $3.8 trillion by 2028, driven by increasing demand for halal financial products. While much of this growth has been concentrated in regions like the Middle East and Southeast Asia, North America is emerging as a new frontier for Islamic finance.

In Canada, the Muslim population is expected to reach 2.7 million by 2036, doubling in size over the next decade. This growth underscores the need for financial services that align with Islamic principles, from halal investments to interest-free mortgages. Manzil Wealth is uniquely positioned to lead this charge, offering a platform that combines faith-based values with cutting-edge financial technology.

Halal investing has gained traction not only among Muslims but also among socially conscious investors from diverse backgrounds. The principles of halal finance—avoiding harm and promoting fairness—align closely with the values of Environmental, Social, and Governance (ESG) investing, which has grown exponentially in recent years.

According to a 2023 report by Morningstar, global ESG investments surpassed $40 trillion, reflecting a broader shift toward ethical finance. Manzil Wealth’s Halal Platform bridges the gap between Islamic finance and these global trends, appealing to investors who prioritize both faith and impact.

Manzil Wealth isn’t just a platform for clients—it’s also a valuable resource for financial advisors. The platform provides advisors with tools and training to better serve their Muslim clients, including:

• Access to Sharia-Compliant Products: Advisors can offer clients a full suite of halal financial services, from ethical investments to Islamic mortgages.
• Specialized Training: Advisors receive guidance on the principles of Sharia-compliant finance, enabling them to tailor solutions to their clients’ needs.
• Innovative Technology: The platform’s intuitive interface simplifies client management, allowing advisors to focus on building relationships and driving results.

Canada’s Islamic Finance Industry

The launch of the Manzil Wealth Platform and the acquisition of Canadian Islamic Wealth mark a significant step forward for halal finance in Canada. Industry leaders have hailed the initiative as a turning point for the country’s financial sector.

Dr. Mohamad Sawwaf, CEO of Manzil, commented:
“This is more than a platform—it’s a movement. We’re creating an ecosystem where clients and advisors can achieve financial success without compromising their values. This is a milestone for Islamic finance in Canada and beyond.”

Reitberger echoed this sentiment, adding:
“Joining forces with Manzil Wealth allows us to build on our shared vision of ethical, client-centric finance. Together, we’re shaping the future of halal investing.”

A key component of Manzil Wealth’s mission is to improve financial literacy within the Muslim community. Studies show that 37% of Canadians struggle with basic financial literacy, and this figure is often higher among marginalized groups, including Muslims. To address this, the platform offers:

1. Workshops: Covering topics like halal investing, budgeting, and retirement planning.
2. Online Resources: Blogs, videos, and guides that make Sharia-compliant finance accessible to all.
3. Consultations: Personalized support to help clients navigate complex financial decisions.

Manzil Wealth’s launch comes at a time when the global economy is increasingly embracing diversity and inclusion. By offering Sharia-compliant solutions, the platform not only serves Canada’s Muslim population but also positions the country as a leader in the global halal finance movement.

Looking ahead, Manzil Wealth plans to expand its offerings to include:

• Takaful (Islamic Insurance): Providing an alternative to conventional insurance models.
• Sukuk (Islamic Bonds): Enabling clients to invest in interest-free debt instruments.
• Halal Retirement Plans: Tailored options for long-term savings that comply with Islamic principles.

Manzil Wealth

1. Manzil Wealth: A subsidiary of Manzil, the company is dedicated to revolutionizing halal finance in Canada. By offering a comprehensive suite of services, Manzil Wealth empowers clients to achieve their financial goals while staying true to their values.

2. Canadian Islamic Wealth: Founded by Jesse Reitberger, the company has built a reputation as a trusted provider of halal investment services. Based in Winnipeg, it has been a trailblazer in educating clients about the principles of ethical finance.

Manzil Wealth invites financial advisors and clients across Canada to join its mission-driven community. Whether you’re seeking a complete halal financial plan or looking to grow your practice with Sharia-compliant products, the Manzil Wealth Platform offers the tools, resources, and support to help you succeed.

The launch of the Manzil Wealth Platform and the acquisition of Canadian Islamic Wealth signify a groundbreaking moment for Canada’s financial sector. By combining ethical values with innovative technology, Manzil Wealth is setting a new standard for Sharia-compliant finance, empowering clients and advisors to achieve financial success without compromise.

As the demand for halal financial products grows, Manzil Wealth is poised to lead the way, shaping the future of finance in Canada and beyond. Whether you’re a client seeking faith-aligned solutions or an advisor looking to expand your practice, the Manzil Wealth Platform offers a unique opportunity to thrive.

By delivering transparency, innovation, and faith-driven integrity, Manzil Wealth is more than a financial service—it’s a movement toward a better, more inclusive future.