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
Itesoft SA is a France-based company that develops software solutions for digitizing, automatically processing, and managing paper and digital documents. The Company concentrates on two main business areas: Financial Process Automation, and Intelligent Capture and Process Automation solutions. For Financial Process Automation, the Company’s solutions help the Purchase-to-Pay process by automatically capturing invoices, paper and e-invoices, validating data with the enterprise resource planning (ERP) and providing a web-based workflow application to manage and control the process leading to posting and paying supplier invoices. Another type of solution focuses on automating sales orders in the Systems Applications and Products (SAP) environment. For Intelligent Capture and Process Automation, the Company provides solutions for processing in-coming document flows to automate and image-enable any document-centric business process, regardless of industry or department.
ITFT - Itesoft SA
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