Manzil

Manzil: a Sharia-compliant challenger bank for an underserved faith

Shaan pitches Manzil, a faith-based challenger bank offering Sharia-compliant (interest-free) mortgages. The thesis: Muslims in the US and Canada are underserved by generic banks, and the model already works in Africa, Indonesia, and the UK.

“What these guys have done is they've done this for a faith-based bank, which is basically saying there is a set of customers out there, in this case Muslims, who are not being served well by the generic banks, and we can make a bank that serves them better”

Steal thisFind a faith or identity group underserved by generic incumbents and rebuild a core financial product to fit their constraints.