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
Fiinu PLC is a United Kingdom-based financial technology company, which offers Plugin Overdraf, which is an unbundled overdraft solution that allows customers to have an overdraft with Fiinu Bank without changing their existing bank. It is focused on building a Bank Independent Overdraft platform for Fiinu Bank, which promotes its flagship banking product in the United Kingdom, its Plugin Overdraft, which gives consumers access to an overdraft facility without the need to switch banks and current accounts. It also helps to build credit and avoid rejection stress. The underlying Bank Independent Overdraft technology platform is bank agnostic, allowing Fiinu Bank to serve all other banks’ customers. Open Banking allows the Company’s Plugin Overdraft to attach (plugin) to the customer’s primary bank account, no matter which bank they may use. Customers can link multiple bank accounts to their overdraft account through Open Banking application programming interfaces (APIs).
BANKI - Fiinu PLC
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