There is a striking imbalance at the heart of global finance. One that affects billions of people and remains largely unaddressed.
The world’s Muslim population surpassed 2 billion in 2023, accounting for over 25% of the global population. DinarstandardStandard Chartered Yet the financial products designed to serve them tell a very different story. In 2024, the Islamic finance industry surpassed $5 trillion in global assets, a 12% rise from 2023 and a 43% increase from 2020. Significant growth, but still a small fraction of the hundreds of trillions that make up global financial markets. Standard Chartered Islamic Banking Financial Institutions Report.
The gap is not a reflection of disinterest. It reflects decades of limited access: few exchange-listed products, narrow index coverage concentrated in large-cap equities, and an infrastructure primarily built around the Gulf and Southeast Asia. For the millions of Muslim investors in North America, accessible and rigorously screened Halal investing alternatives have been hard to find.
The momentum is shifting. Global Islamic finance assets are projected to reach $7.5 trillion by 2028, driven by a young, growing Muslim population and rising global demand for ethical, values-aligned finance.
https://www.sc.com/en/press-release/standard-chartered-global-islamic-finance-assets-to-sur pass-usd-7-5-trillion-by-2028/
The Manzil Russell Halal USA Broad Market ETF (MNZL) was built for this moment, bringing a diversified, AAOIFI-screened, Nasdaq-listed investment to investors who have long deserved better options.
To learn more about the objectives and risks of MNZL and to obtain a prospectus, scroll to the Important Information section at the bottom of this page. Read the prospectus carefully before investing. ETFAC-5548998-07/26
Read the prospectus at manzilfunds.com
Sources are drawn from Standard Chartered’s 2025 Islamic Banking Report and the DinarStandard SGIE Report 2024/25.