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
Fin Resources Limited is an Australia-based company, which is focused on the development of the Sol Mar Project. The Sol Mar Project consists of six granted exploration licenses and three pending exploration licenses located in a salt production region with ideal climatic conditions to produce high purity salt. It is investigating the use of renewable energy in the form of wind and solar energy to create a zero-carbon footprint project and potentially fuel renewable product streams, such as Hydrogen and other green by products. The Sol Mar Project is comprised of a strategic approximately 900 square kilometers (km2) license holding in an ideal setting adjacent to existing infrastructure. The project is in a salt production region with climatic conditions in the region of Onslow give rise to amongst the highest evaporation rates in Australia. The McKenzie Springs Project is located in the Kimberley region of Western Australia, approximately 85 kilometers (km) northeast of Halls Creek.
FIN - Fin Resources Ltd
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