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
Dharani Finance Limited is an India-based non-banking finance company (NBFC) and carries on non-banking financial services. The main objects of the Company are to carry on the business of hire purchase, leasing of machinery and other equipment, to finance industrial enterprises, to undertake business of financial operations of all kinds, to deal in foreign exchange, to provide financial services like investment planning, tax planning, consultancy and others. The Company’s objects also include undertaking of insurance business, establishing computer schools, computer center, entering into software development and others. The Company is also authorized to carry on business of travel agency, act as tour agents, carry on import and export of merchandise, function as forwarding agent, freight contractors, warehousing and others.
DFIN - Dharani Finance Ltd
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