Manzil, Canada’s leading Islamic FinTech company, has proudly announced that it has surpassed CAD $100 million in Halal mortgage financings. This significant achievement highlights the company’s rapid growth and its deepening impact in offering Shariah-compliant, faith-based financial solutions to the Canadian Muslim community.
What makes this milestone particularly remarkable is that it comes less than a year after Manzil reached the CAD $50 million mark. The fact that the company has doubled its total in such a short period is a strong indicator of both the rising demand for Halal home financing and the increasing trust that Canadian Muslims continue to place in Manzil’s ethical financial model.
According to Dr. Mohamad Sawwaf, Founder and CEO of Manzil, this milestone represents far more than financial growth. “Crossing the $100 million mark is more than just a number—it’s a reflection of the community’s belief in our mission and the importance of financial products that align with their values,” he said. “We are humbled by the trust our clients have placed in us and remain committed to empowering the Muslim community through accessible, transparent, and compliant financial services.”
At the core of Manzil’s services are its Halal mortgage products, which are structured using Murabaha (a cost-plus sale model) and Musharaka (a co-ownership partnership). These models are specifically designed to adhere to global Islamic finance standards and are reviewed and certified by Manzil’s Shariah Supervisory Board. Additionally, Manzil’s offerings are audited annually by IFAAS (Islamic Finance Advisory & Assurance Services), ensuring ongoing compliance. The company is also proud to be the first AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) member in Canada, further strengthening its credibility and commitment to Islamic finance principles.
In a market where traditional mortgage products often conflict with the values of faith-conscious consumers, Manzil continues to offer real, values-driven alternatives. Its approach focuses on financial dignity, transparency, and accessibility, helping Canadian Muslims achieve homeownership in a way that aligns with their beliefs.
Manzil’s growth is not only a result of product innovation but also its strong connection to the community. Through educational workshops, financial literacy programs, and community engagement initiatives, Manzil has fostered meaningful relationships based on trust and shared purpose. These efforts reflect a deeper mission—to support the Muslim community not only with financial tools but also with knowledge and empowerment.
Beyond home financing, Manzil has expanded its product suite to include Halal investments, savings products, and realty services. Looking ahead, the company is preparing to launch new offerings such as commercial real estate financing, auto financing, business financing, and a digital-first Save & Spend product suite, all designed to serve the evolving needs of the Muslim market.
With the Canadian Muslim population approaching two million and millions more across North America seeking Shariah-compliant financial options, Manzil is uniquely positioned to scale its impact. Dr. Sawwaf emphasized that this milestone only strengthens the company’s vision for the future. “This milestone strengthens our resolve to reach more households, empower more families, and contribute to a more equitable financial system—one that respects the religious and ethical convictions of our clients.”
As Manzil continues to grow, it remains focused on investing in technology, compliance, and strategic partnerships to ensure it can meet the evolving needs of the community. With a strong foundation, a clear mission, and the trust of thousands of Canadian Muslims, Manzil is poised to remain a leading force in the Halal finance space for years to come.