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
Home First Finance Company India Limited is an India-based housing finance company. The Company is primarily engaged in the business of lending housing loans, loans for the purpose of purchasing a commercial property, loans against property and construction finance. The Company’s products include home loans for salaried professionals, home loans for the self-employed, home construction loans, home extension and renovation loans, loans against property, home loans for non-resident Indians (NRIs), home loans for senior citizens, home loan balance transfers, home loans top up, and loans for purchase of commercial property. The Company provides a mobile application, Home First Customer Portal, which provides functions, such as accessing their loan statements, prepaying loans without any prepayment charges and raising service requests. It targets first-time formal buyers in low-and middle-income groups. The Company has more than 100 branches across India.
HOME - Home First Finance Company India Ltd
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