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Beneficent Partners with Manzil on Interest-Free Prepaid VISAs



The goal of this partnership is to help free individuals of crippling short-term debt and teach crucial budgeting practices

TORONTO, February 24, 2021: Beneficent, a non-profit organization dedicated to providing interest-free financing to those who suffer from debt, announced today its partnership with Manzil on interest-free prepaid visas. This partnership will further Beneficent’s mission of empowering the community to achieve and maintain economic self-reliance. 

Manzil’s mission is to help ethically-conscious people balance their financial needs with their ethical and spiritual obligations. In keeping with this mission, they have launched interest-free prepaid credit cards with cashback rewards that one can also use to build their credit score. The partnership created with Manzil will not only support a portion of Manzil’s clients who seek debt relief with an interest-free loan but will also help empower them further through the credit building and halal investing activities. 

“We’re excited about Manzil’s partnership with Beneficent and truly believe in the impact that we will make in the community. Beneficent addresses a current gap with some of our clients who seek debt relief that is interest-free  and through this partnership we can now help these clients earlier along their ethical financial lifestyle journey. Our prepaid Visas, in partnership with KOHO, allow users to save, spend and budget in one place,” said Mohamad Sawwaf, Co-Founder and CEO of Manzil. “Manzil’s mission is all about community empowerment, education and creating products that help ethically conscious people balance their financial needs with their ethical and spiritual obligations. This partnership will help do just that.” 

Beneficent seeks to  leverage the strengths of partner organizations to help its clients with their needs once they no longer need short-term loans but are looking for other empowering financing options. At the same time, Beneficent offers its services to partner organizations’ clients where needed. 

“One of the main avenues through which we serve our community at Beneficent is by freeing individuals of crippling short-term debt, such as credit card bills or outstanding expenses as a result of recent job loss, by providing interest-free loans,” said Nahian Alam, Co-Founder and VP Operations at Beneficent. “We consider Manzil’s interest-free prepaid cards a natural product to recommend to our clients, as they lend themselves to good budgeting practices and stem the flow of new debt.”

Signing up here will allow clients to receive a $10 sign-up bonus for every activated card. 

About Beneficent

Beneficent was founded in 2016 as a non-profit organization that provides short-term interest-free loans, financial coaching for clients, resume and interview preparation support to promote economic self-reliance and empowerment.  It started  in the Toronto-Waterloo corridor and has since expanded operations throughout Canada.

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Fawad Ahmed


About Manzil

Manzil is a privately-held Canadian company and is the only Canadian Islamic FinTech that manufactures and distributes Halal financial solutions which currently include home financing and investment funds. It was founded in 2017 and is headquartered in Toronto, Canada.

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Zeinab Saidoun


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