Islamic investment options broadened by Manzil for American Muslim populace through partnership with Alpaca
In a groundbreaking move, Manzil Invest USA, a new digital investment platform, has been launched to offer Shariah-compliant investment solutions tailored to the American Muslim community. Operated by Manzil Investment Advisors LLC, an SEC-registered investment advisor, and a subsidiary of the Canadian Islamic fintech startup Manzil, the platform addresses the needs of several million Muslims in the USA who have historically felt excluded from conventional financial tools and investment opportunities.
Powered by a strategic partnership with Alpaca, a self-clearing broker-dealer and brokerage infrastructure API that specializes in delivering Shariah-compliant financial products, Manzil Invest USA provides a simplified way for American Muslim investors to create and manage portfolios aligned with Islamic finance rules. This partnership aims to expand access to ethical finance and halal investment options, helping American Muslims participate confidently in the stock market while adhering to their faith’s principles.
The platform offers pre-screened halal investment strategies focusing on stocks and ETFs compliant with Islamic law. Given that only about one-third of the S&P 500 stocks are considered Shariah-compliant, this platform simplifies investing in public equities for Muslims who might otherwise avoid the market. All securities on Manzil Invest USA are pre-screened by Manzil using the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards, and further filtering is done through the American Friends Screening Committee (AFSC) criteria.
Manzil Invest USA aims to remove complexities for customers new to public equities by offering expertly managed and diversified portfolios that match customers’ investment goals and risk profiles. In addition to the investment offerings, the platform provides educational resources to help users make informed financial decisions and plan for the future.
Dr. Mohamad Sawwaf, Group CEO of Manzil, emphasized the importance of providing financial tools tailored for American Muslims, stating that many Muslims in the USA feel excluded from financial tools and advantages due to the limited number of stocks compliant with Islamic beliefs. Alpaca's CEO, Yoshi Yokokawa, affirmed the company's commitment to financial innovation and accessibility through its partnership with Manzil.
The Manzil Invest USA platform is now available for download in both the Apple App Store and Google Play Store. By making halal investing options available to all, the platform gives Muslim investors across the U.S. more power to participate in the stock market while adhering to their faith’s principles.
[1] Manzil Invest USA Press Release (2021). [2] Manzil Invest USA Website (2021). [3] Alpaca Press Release (2021). [4] Islamic Finance News (2021).
- Manzil Invest USA, a new digital platform for investing, partners with Alpaca to offer Shariah-compliant investment solutions, focusing on finance, technology, and personal-finance, aiming to widen access to ethical finance and halal investment options within the lifestyle and business sectors for the American Muslim community.
- The Manzil Invest USA platform, accessible via the Apple App Store and Google Play Store, offers expertly managed and diversified portfolios in finance, tailored to individual investment goals and risk profiles, while also providing educational resources for informed decision-making and future planning.
- The platform's investment strategies, which concentrate on stocks and ETFs in line with Islamic law, use pre-screening by Manzil based on AAOIFI standards and further filtering through the American Friends Screening Committee (AFSC) criteria, providing a simplified way for American Muslim investors to participate in the stock market while maintaining faith-based principles.
