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
Diverger Limited is an Australia-based company focused on providing integrated accounting and wealth market. The Company’s segments include Wealth Solutions, Accounting Solutions, Technology Solutions, and Corporate. The Wealth Solutions segment is engaged in providing licensing options, operating systems, and managed accounts to wealth advisers to enable them to provide services such as financial planning, risk insurance advice, self-managed superannuation administration and managed accounts. This segment comprises DWA Managed Accounts (CARE) and GPS Wealth. The Accounting Solutions segment provides professional support, help desk and training primarily in the accounting sector and more recently to the wealth sector. This segment comprises Knowledge Shop and TaxBanter. The Technology Solutions provides managed services and supply and installation of technology hardware and software subscriptions to a range of industries including both the accounting and wealth sectors.
DVR - Diverger Ltd
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