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Note on Purification and Zakat

  • 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

Affinity Metals Corp. is a Canada-based company, which is engaged in the acquisition and exploration of mineral properties in Canada. The Company projects include Regal Property, Carscallen Extension Property, Windfall North Property and Nor Property. The Regal Property is located within the northern end of the prolific Kootenay Arc, approximately 25 kilometers (km) northeast of Revelstoke, British Columbia, Canada. The Carscallen Extension Property is located west of Timmons, Ontario. The Company has acquired 100% interest in the Windfall North Property, which is located in the province of Quebec. The property consists of approximately 96 mineral tenures, which covers approximately 5143.15 hectares. The Nor Property consists of mineral claims in the Dawson Mining District, Yukon Territory.