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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
Buddy Technologies Limited is an Internet of things (IoT) and cloud-based technology provider. Its segments include Commercial Business and Consumer Business. The Commercial Business segment includes all activities related to Buddy Ohm and Buddy Managed Services as well as any products or services sold where the customer is a commercial business other than a consumer retailer. The Consumer Business segment includes all activities related to the sale of products or services where the customer is a consumer or the retail channels that sell to consumers. Buddy Ohm and Buddy Managed Services are its Commercial offerings. Its Buddy Ohm is a resource monitoring and analytics solution that provides energy monitoring, reporting, and auditing services for commercial and industrial customers. Its Buddy Managed Services licenses Buddy’s technology platforms to customers for integration into their products. Its Parse on Buddy is a mobile backend as a service (mBaaS) built on BaaS technology.
