New York, NY / Dallas, TX – Manzil Investment Advisors LLC, an SEC-registered investment advisor and subsidiary of Manzil, a Canadian Islamic fintech startup, recently announced the launch of Manzil Invest USA, a new digital platform offering Shariah-compliant investment solutions specifically tailored for the American Muslim community. 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 this launch, Manzil provides customers with access to a wide range of pre-determined halal investment strategies, furthering their mission to simplify investing and saving for Muslims across North America.
“There are several million Muslims in the USA, many of whom feel excluded from the financial tools and advantages that their peers have access to,” stated Dr. Mohamad Sawwaf, Group CEO of Manzil. “Muslims want to invest but only about a third of the stocks in the S&P 500 are compliant with our beliefs. In the absence of a platform like Manzil Invest USA, many Muslims may sit out of the public stock market entirely.”
By offering expertly managed and diversified portfolios that align with their customers’ investment goals and risk tolerance, Manzil aims to remove any complexities for customers who are new to public equities. To ensure compliance with both Islamic and ethical investing principles, all securities are pre-screened by Manzil using the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards and further filtered through the American Friends Screening Committee (AFSC) criteria.
“Our partnership with Manzil underscores Alpaca’s commitment to fostering financial innovation and accessibility,” said Yoshi Yokokawa, CEO and Co-founder of Alpaca. “We are excited to support Manzil's vision for inclusive finance by providing the infrastructure they need to deliver Shariah-compliant investment opportunities to millions of Muslims in the United States.”
Additionally, the platform provides educational resources to help users make informed financial decisions and plan for the future.
The Manzil Invest USA platform is now available for download in both the Apple App Store and Google Play Store.
About Alpaca
Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure for stocks, ETFs, options, fixed income, and 24/5 trading– raising over USD170 million in funding. Alpaca is backed by top-tier investors globally, including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Derayah Financial, Elefund, and Y Combinator.
About Manzil
Manzil is Canada’s first AAOIFI-member Islamic FinTech company, providing Shariah-compliant mortgages, investments, wills, and savings solutions. Founded on the principles of financial justice and community empowerment, Manzil is committed to delivering inclusive, ethical financial alternatives tailored to Muslim consumers.
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Alpaca does not make any representation that its products or services are Shariah-compliant. Customers are solely responsible for determining whether any offering meets their own Shariah requirements.
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