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
iFabric Corp. is a Canada-based company, which is engaged in the business of designing and distributing women’s intimate apparel, as well as a range of complimenting accessories. It is also in the business of developing and distributing a range of products and treatments that are suitable for application to textiles, plastics, liquids and hard surfaces, as well as finished performance apparel. These products are designed to provide added benefits to the user. Its two divisions offer a variety of products and services through wholly owned subsidiaries, namely Intelligent Fabric Technologies (North America) Inc. (IFTNA) and Coconut Grove Pads Inc. (Coconut Grove). IFTNA is focused on development and sale of high-performance sports apparel, medical protective apparel, consumer protective apparel and proprietary treatments. Coconut Grove operates as Coconut Grove Intimates, is a designer, manufacturer, distributor, licensor and licensee of ladies’ intimate apparel products and accessories.
IFA - iFabric Corp
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