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
DomaCom Australia Limited is an Australia-based company that owns and operates a fractional investment platform. The Company provides real solutions for self-managed super funds (SMSF’s), retirees and new home buyers. Using the DomaCom platform, investors make fractional investments in a range of asset classes, including property-related investments, mortgage-backed securities, renewables, affordable housing, disability accommodation and debt securities via a trust structure tailored to them. The Company’s platform is offered through a Managed Investment Scheme, the DomaCom Fund. The DomaCom Fund is a managed investment fund. It also runs a crowdfunding campaign process in which investors can commit as much as they want towards the purchase of assets together with other like-minded investors. When a campaign is complete, DomaCom purchases the asset, places it in a sub-fund, and issues the investors with units in proportion to the amount it invested.
DCL - Domacom Australia Ltd
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