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
Douugh Limited is an Australia-based financial technology company. The Company is engaged in helping users with financial wellness through its money management platform. It is focused on the development of mobile banking app through artificial intelligence. The Company’s solutions include saving, investment, spending, budgeting, borrowing, and automation. The Company’s app offers various features, including Bills Jar, Stash Jars. The bill Jar is a Jar created by the Company for easy management of fixed expenses and subscriptions. It offers virtual cards and bank accounts, which enable customers to pay for their bills and subscriptions directly out of their Bills Jar. The Company’s bank account and debit card are issued by Choice Financial Group. Stash Jars enables customers to stash their cash through automated budgeting and save cash for the short-term. Its application is available on the App Store and Google Play Store.
DOU - Douugh Ltd
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