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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
Crossover Acquisitions Inc. is a Canada-based capital pool company. The Company has not commenced commercial operations and has no assets other than cash, prepaid expenses and deferred financing costs. The Company’s proposes is to identify and evaluate businesses and assets with a view to completing a qualifying transaction. It has not conducted commercial operations other than to enter into discussions for the purpose of identifying potential acquisitions or interests.
