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
Generation Development Group Limited is an Australia-based Pooled Development Fund (PDF). The Company’s principal activity includes marketing and management of life insurance and life investment products and services to the retail sector in Australia and the provision of administration services in the financial services industry. The Company’s segment is the Benefit Funds Management and Fund Administration, which is engaged in the provision of administration and management services to the Benefit Funds of Generation Life Limited and administration services to institutional clients. It offers a range of tax effective investment solutions, which include investment bonds, IncomeSeries and LifeIncome annuities. Its investment bonds range includes LifeBuilder, ChildBuilder and FuneralBond. LifeIncome annuity is an investment-linked lifetime annuity that pays a regular income for life. LifeIncome annuity is designed to optimize retirement income and complement other retirement solutions.
GDG - Generation Development Group Ltd
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