Manzil Canada Islamic financial institution

Assalamu aleykum wa rahmatullah wa barakatuh !
I will start by posting the link to this company:

  1. They have a mortgage fund in which we can invest by opening a halal savings account with them. My question related to that is : can you explain how is it that the % we would receive back in the saving account is halal?I understand the principal of halal mortgage for someone who would apply for it. But What I don’t understand is the relationship between the institution and someone that would invest in their mortgage fund. Isn’t it lending money to the bank, then they invest in buying houses, and then they pay back interest in the saving account? I guess it is not the way it works else it would not be halal, but I have trouble understanding it. I would like to support Islamic financial institution in investing with them and saving in their account but I want ro make sure that I understand if it’s really halal.

  2. From the information you can find on the following link, is it really a low-risk investment?

  3. Please can you explain what this investing means(link at the end)? Let’s say I invest $500 what do I get in return, and when?They advertise it as owning a share of the company. But they say from what I understand that there’s no equity. Plus the condition of an other funding campaign… I really don’t understand although I would like to help and invest… Finally is it a permissible transaction?

Jazakallahu khayran !


May Allah bless you.
The company has a shariah compliance certification in place from a reputable shariah consultancy firm (IFAAS). Furthermore the compliance seems to have been endorsed by AAOIFI. Thus, there should not be any reason to doubt their products.

The best thing would be to email IFAAS shariah advisors directly for further explanation.

Kind regards

Assalamu aleykum wa rahmatullah wa barakatuh Mufti Bilal. Jazakallahu khayr for your quick answer. Alhamdulillah, I’m more reassured in the fact that it is halal.

May I ask you for the 3d point a quick explanation of the deal there, please? I really don’t understand. (maybe it’s the language barrier because I normally speak French). I can contact them on this topic but they will probably just reiterate what they have already written in the description.

I appreciate your time and great effort you (IFG and the Muftis) put in this forum and answering our questions. Barakallahu fikum wa Jazakumullahu khayran !


I speak French hamdullah, PM me with your query and I will send you an explanation in French enchallah.

Kind regards

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