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
Equitas Small Finance Bank Limited is an India-based banking company. The Company operates through three segments: Treasury, Wholesale Banking and Retail Banking business. Treasury segment includes all investment portfolios, profit/loss on sale of investments, priority sector lending certificates (PSLC) fee, profit/loss on foreign exchange transaction, equities, income from derivatives and money market operations. The Corporate / Wholesale Banking segment includes all advances to trusts, partnership firms, companies, and statutory bodies, which are not included under Retail Banking. The Retail Banking segment includes lending to and deposits, from retail customers and identified earnings and expenses of the segment. Its services include retail banking business with focus on micro-finance, commercial vehicle finance, home finance, loan against-property, corporate finance, and providing financing solutions for individuals and micro and small enterprises (MSEs).
EQUI - Equitas Small Finance Bank Ltd
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