Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Fintech Select Ltd. is a Canada-based company engaged in providing financial payment services. The Company is a provider of robust and disruptive payment solutions, including prepaid card programs, crypto-currency point-of-sale (POS), e-wallet and online payment. It operates through various divisions: Prepaid, Twifty, Selectcoin and Call Center. The Company also operates a 24/7/365 multi-lingual call center that provides customer service support to third party customers in Canada and the United States and to the Company’s customers across the platforms. Its corporate and government-facing MasterCard programs include Canada’s robust infrastructure, including a large POS footprint that allows consumers to fund their cards. Its Twifty platform offers an online and e-wallet payment solution that specializes in e-commerce processing, corporate disbursements, and remittances. Its Selectcoin platform allows anyone to buy and sell cryptocurrencies through its POS footprint.
FTEC - Fintech Select Ltd
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