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
Earlypay Limited is engaged in providing finance to small and medium enterprises (SME) in the form of invoices, equipment, and trade financing. The Company’s products and services by segment include Invoice Finance and Equipment Finance. Invoice Finance includes debtor finance and trade finance. Debtor finance provides an advance payment of up to 80% of a client’s invoice to help their business overcome the cash pressure of delivering goods or services in advance of payment from the customer (often 30 to 60 days). Equipment Finance refers to equipment finance for both new and old equipment. This includes sale-back of owned or partially owned equipment, private sales, and mid-term refinancing. It provides invoice factoring, invoice discounting, clean energy finance, and a business line of credit. The Company’s foreign exchange provides a range of foreign exchange solutions to enable businesses to manage international transactions, reduce risk, and trade globally.
EPY - Earlypay Ltd
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