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
I G Petrochemicals Limited (IGPL) is engaged in the manufacturing of phthalic anhydride and maleic anhydride. The Company is engaged in the manufacture and sale of organic chemicals. It also produces benzoic acid and diethyl phthalate (DEP). Phthalic Anhydride is used in poly vinyl chloride (PVC) products, pipes and hoses, boxes, container, and shoes, wires, and cables; alkyd resins and paints, such as paints, lacquers, dyes insect repellents, and urethane polyester polyols, and unsaturated polyester resin, such as thermostat for manufacturing of fiberglass-reinforced plastics. Benzoic Acid is used in perfumes, dyes, topical medications, insect repellants, and food preservatives. Maleic Anhydride is used in the manufacturing of lubricating oil additives, personal care products, water treatment, detergents, insecticides and fungicides, and unsaturated polyester resins (UPR). It produces maleic anhydride through wash water generated out of the production process.
IGPT - I G Petrochemicals Ltd
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