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Manzil Expands Shariah-Compliant Investment Solutions to American Muslims with Alpaca
Manzil and Alpaca have joined forces to make it easier for American Muslims to invest in halal ways. This Manzil Alpaca partnership brings together Shariah-compliant financial services and Alpaca’s modern broking platform. This makes it easier for U.S. investors to make their portfolios follow Islamic finance rules.
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.
With the Manzil Alpaca Partnership, Manzil is committed to its mission of making halal investing options available to all, giving Muslim investors across the U.S. more power.
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