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
Geekco Technologies Corporation is a Canada-based company. The Company’s business activities consist in developing and operating mobile applications. The Company’s FlipNpik application is a collaborative social network that aims to promote local shopping, thereby contributing to the improvement of local economy and to reward valuable contributions to all active users. The FlipNpik ecosystem and mobile application leverage the community of consumers, content creators and influencers to stimulate local shopping and boost the visibility of local businesses. In exchange, active users who create and share digital content within the platform receive Social Flips that they can use to earn rewards and/or goods from strategic partners and local businesses.
GKO - Geekco Technologies Corp
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