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
Indian Railway Finance Corporation Limited is an India-based financing arm of the Indian railways. The Company operates through the Leasing and Finance segment. The Company’s principal business is to borrow funds from the financial markets to finance the acquisition / creation of assets, which are then leased out to the Indian Railways as finance lease. The Company’s main business is to finance the acquisition of rolling stock assets, leasing of railway infrastructure assets, and lending to other entities under the Ministry of Railways (MoR). It uses a leasing approach to fund Indian Railways’ Rolling stock and project assets. It lends funds to MoR and other Railway Entities in order to fuel their growth plan. It also provides loans to Rail Vikas Nigam Limited (RVNL) and IRCON. It raises funds from various sources, including term loans and bonds from domestic and international market.
INID - Indian Railway Finance Corp Ltd
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