Investment firm Manzil broadens its Shariah-aligned financial offerings, now accessible to Muslim Americans through partnership with Alpaca.
In the bustling world of public stock markets, many American Muslims have traditionally been sidelined due to a lack of compliant investment options. However, this scenario is set to change with the arrival of Manzil Invest USA, a digital investment platform designed specifically for the American Muslim community.
Manzil Invest USA is a joint venture between Canadian Islamic fintech company, Manzil, and Alpaca, a Financial Industry Regulatory Authority-registered self-clearing broker-dealer. This partnership offers Islamic finance-compatible brokerage infrastructure, enabling Manzil Invest USA to provide Shariah-compliant investment solutions.
The platform offers a wide range of investment strategies, including halal stocks and ETFs that adhere to Islamic finance criteria. To ensure complete compliance, all investment options are pre-screened according to standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and further filtered through the American Friends Screening Committee (AFSC).
One of the key features of Manzil Invest USA is its easy and fast account opening process. Users can start investing within five to ten minutes, making it accessible for those new to public equities. Furthermore, the platform offers expertly managed and diversified portfolios tailored to customers’ investment goals and risk tolerance, simplifying the investing process.
Dr. Mohamad Sawwaf, Group CEO of Manzil, emphasized the importance of such a platform, stating that there are several million Muslims in the USA who feel excluded from financial tools and advantages. He further added that only about a third of the stocks in the S&P 500 are compliant with Islamic beliefs.
In addition to investment opportunities, Manzil Invest USA also provides educational resources to help users make informed financial decisions. The platform aims to make halal investing and wealth management more accessible and streamlined, eliminating complexities that often discourage participation in public markets.
Alpaca, a partner of Manzil Invest USA, is committed to fostering financial innovation and accessibility. They are excited to support Manzil's vision for inclusive finance in the United States. The platform is powered by a strategic partnership with Alpaca, a self-clearing broker-dealer and brokerage infrastructure API offering Shariah-compliant financial products.
With Manzil Invest USA, American Muslims now have a modern, accessible, and compliant investment platform that covers a broad spectrum of halal investment options and professionally managed portfolios. The launch of Manzil Invest USA further cements Manzil's mission to simplify investing and saving for Muslims across North America.
Manzil Invest USA, a digital investment platform, is a joint venture between Manzil and Alpaca, offering Islamic finance-compatible brokerage infrastructure to provide Shariah-compliant investment solutions for the American Muslim community. It offers a wide range of investment strategies, including halal stocks and ETFs, pre-screened according to AAOIFI standards and further filtered through the AFSC.
Manzil Invest USA simplifies the investing process by offering expertly managed and diversified portfolios tailored to customers’ investment goals and risk tolerance, while also providing educational resources to help users make informed financial decisions. The platform aims to make halal investing more accessible and streamlined, eliminating complexities that often discourage participation in public markets.
