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
LoanDepot, Inc. provides a customer-centric, technology-empowered residential mortgage platform. It originates conventional and government mortgage loans, servicing conventional and government mortgage loans, and providing ancillary services. It engages in the originating, financing, selling, and servicing of residential mortgage loans, and engages in title, escrow, and settlement services for mortgage loan transactions. It has built mello, the technology platform that functions across all aspects of its business, including lead generation, applications, data integration, processing, closing, and servicing. Its loan product includes conventional agency-conforming loans, conventional prime jumbo loans, Federal Housing Administration & Department of Veterans Affairs loans, and home equity loans. Its ancillary businesses include settlement services, real estate services and insurance services. Its servicing portfolio and in-house capabilities complement its loan origination strategy.
LDI - Loandepot Inc
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