Company
Date Published
Author
Luke West
Word count
863
Language
English
Hacker News points
None

Summary

Manzil Investment Advisors LLC, a subsidiary of the Canadian Islamic fintech startup Manzil, has launched Manzil Invest USA, a digital platform offering Shariah-compliant investment solutions tailored for the American Muslim community. This initiative, powered by a partnership with the self-clearing broker-dealer Alpaca, aims to provide Muslims in the U.S. with access to halal investment strategies, addressing the challenge that many face in finding investments that align with their beliefs. The platform offers expertly managed and diversified portfolios pre-screened for compliance with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards and the American Friends Screening Committee (AFSC) criteria. Manzil Invest USA also provides educational resources to help users make informed financial decisions. Available on the Apple App Store and Google Play Store, this platform underscores Alpaca's commitment to financial innovation and accessibility, although Alpaca itself does not certify its products as Shariah-compliant, leaving customers to determine their compliance.