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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

Argos Resources Ltd is a Falkland Islands (Malvinas)-based exploration company, which is focused on the North Falkland Basin. The principal activity of the Company and its subsidiary is exploration for oil and gas in the area licensed to it in the North Falkland Basin. The license PL001, covers an area of approximately 1,126 square kilometers. The license boundary is about three kilometers from the Sea Lion oil field. The Company has identified 52 prospects with an estimate of approximately 3,083 million barrels of prospective recoverable resource. Argos Exploration Ltd., is its wholly owned subsidiary.