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
Carbeeza Inc. is a Canada-based software company. The Company has developed and commercialized a technical platform powered by artificial intelligence (AI) for the automotive industry. The platform provides for an automotive marketplace with AI finance functionality and data analysis. The API Platform is a marketplace for consumers, dealers, and lenders to meet and transact the purchase of any type of vehicle. The Platform allows consumers to research vehicles, find financing options and negotiate the lowest prices for their preferred vehicle from anywhere in the world. The API Platform provides dealers and dealerships with a new sales channel. Its subsidiary, Carbeeza Holdings Ltd. has developed the software application (the API Platform), which is the key enabling technology of the Company’s sales platform. Customers submit non-specific information and Carbeeza’s algorithm contained in the API Platform will match them with the financing offers available from lending partners.
AUTO - Carbeeza Inc
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