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
Australian Finance Group Limited is an Australia-based company that is engaged in the mortgage origination and lending business. The Company operates through two segments: Aggregation and AFG Home Loans (AFGHL). The Aggregation segment includes operating activities in which the Company acts as a wholesale mortgage broker that provides its contracted brokers with administrative and infrastructure support as well as access to a panel of lenders. The Company receives two types of commission payments on loans originating through its network, which include upfront commissions on settled loans and trail commissions on the loan book. The AFGHL segment offers the Company’s branded mortgage products, funded by third party wholesale funding providers (white label products) and AFG Securities mortgages that are distributed through the Group’s broker network. The Company’s products include Suite360 Platform, Commercial & Business Broking, Analytics & Business Data and SMART Marketing Platform.
AFG - Australian Finance Group Ltd
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