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
Clime Investment Management Limited is an Australia-based company. The principal activity of the Company and its subsidiaries include the provision of integrated wealth solutions to clients by operating under the Australian Securities and Investments Commission (ASIC) granted Australian Financial Services Licenses (AFSLs). Its Investment Management segment provides a range of investment management services through Clime Asset Management Pty Ltd, CBG Asset Management Limited and Ralton AM Pty Limited businesses. Its private wealth business through Clime Private Wealth Pty Limited, MTIS Wealth Management Pty Limited, and Investment Strategists Accounting Services Pty Limited delivers private wealth advisory services for its wholesale, sophisticated and retail clients. Its Licensee Services segment includes the businesses of Madison Financial Group Pty Limited, AdviceNet Pty Limited, WealthPortal Pty Limited, ProActive Portfolios Pty Limited, and Optimise Advice Services Pty Limited.
CIW - Clime Investment Management Ltd
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