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
Ocumetics Technology Corp. is a Canada-based research and product development company. The Company specializes in adaptive lens designs. The Company is focused on developing intraocular lens for people over 45 years of age. It is in the preclinical study stage of a technology for the ophthalmic industry. The Bionic Lens, which is an expandable intraocular lens that fits within the natural lens compartment of the eye to eliminate the need for corrective lenses. It is designed to allow the eye’s natural muscle activity to shift focus from distance to nearby. The Lens consists of self-adapting suspension systems that modulate curvature change. The Lens’s suspension systems are comprised of cushions that are designed to conform to unique parameters of each recipient’s eye. When ciliary muscles relax, during sleep or when the eye focuses upon distant objects, the optical interface is compressed into its high energy state by expansion of the suspension system.
OTC - Ocumetics Technology Corp
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