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
Izmir Demir Celik Sanayi AS (Izdemir) is a Turkey-based manufacturer of steel billets, and reinforcing plain, folded, hot rolled, quenched or tempered steel bars. It operates two production units: Melt shop, where the steel scrap is melted, refined and converted to steel billets, and Rolling Mill, which is computerized, and incorporated with slit rolling, double slit rolling, controlled cooling and composite rolling, where the billets are formed into plain and deformed bars in different diameters. The Company owns a port facility in Izmir, where it offers maritime services, such as chartering, warehousing, ship handling, custom clearance, as well as stevedoring through its subsidiary, IDC Liman Isletmeleri. Akdemir Celik and Izdemir Enerji Elektrik Uretim AS are other subsidiaries of the Company, active in the steel and energy industries, respectively. The Company is a subsidiary of Sahin-Koc Celik Sanayi AS.
IZMDC - Izmir Demir Celik Sanayi AS
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