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
ICDS Limited is an India-based non-banking financial services company. The Company is engaged in trading activities of shares and securities, mobiles and accessories, rental investment properties, marketing of the insurance products of life and general insurance companies. The Company is involved in Hire Purchase, Lease Financing, Bill Discounting and Loans to Industrial Units. The Company operates through approximately seven branches/offices across India. The Company’s subsidiary is Manipal Properties Limited.
ICDS - ICDS Ltd
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