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
Erciyas Celik Boru Sanayi AS is a Turkey-based company, which engages in production of spiral steel, mainly welded steel pipes of multifunctional usage. Taking under consideration products various usage, the Company also involves in manufacturing respective additional protection from external factors, such as polypropylene, polyurethane and fusion bonded epoxy coverage. Entity engages in production of pipes suitable for drinking water, natural gas, petrochemical and oil purposes, piling pipes, steel structure pipes, general and special purpose pipes and additional parts. The Company continues its production in Duzce and Mersin production facilities and export its products to Morocco, Canada, Mexico, Algeria, Egypt, Australia, Montenegro, Hungary, Spain, Germany, Slovenia, Greece, Israel, England, France, Netherlands, Italy, Romania, Georgia and Denmark.
ERCB - Erciyas Celik Boru Sanayi AS
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