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
Change Financial Limited is an Australia-based financial technology (fintech) company. The Company’s technology provides tailored payment solutions, card issuing, and testing to banks and fintech. Its technology is used by approximately 157 clients across 41 countries to deliver simple, flexible and fast-to-market payment services, including card issuing and testing. Its payments as a service (PaaS) platform, Vertexon, integrates with banks and fintech’s core systems, enabling the delivery of digital and virtual card solutions to their customers. It includes integrated features, such as Apple Pay, Google Pay, Samsung Pay and Buy Now Pay Later (BNPL) services. It manages and processes approximately 27 million credit, debit and prepaid cards worldwide. PaySim enables banks and fintech to complete end-to-end testing of their payment platforms and processes from a desktop. The Company also provides the default standard for testing for many Australian companies.
CCA - Change Financial Ltd
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