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
Akwaaba Mining Ltd is a Canada-based exploration company. The Company is engaged in the business of exploration and evaluation of mineral properties in Ghana, Africa. The Company’s Akorade project is located in southwest Ghana, in the southern portion of the Ashanti gold belt. This land package encompasses approximately 225 square kilometers, lying within 50 kilometers of five producers accounting for nearly 50 million ounces in gold reserves and resources. The Company has an initial discovery, the Apankrah Deposit, an inferred mineral resource estimate of 275,000 tons at 8.6 gold per ton (g/t Au) for a total of 76,000 contained ounces.
AML - Akwaaba Mining Ltd
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