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
Lypsa Gems & Jewellery Limited is an India-based diamond company that is engaged in trading and working in diamonds. The Company is engaged in the business of trading, importing, exporting, making and polishing diamonds, gems and other precious stones. The Company has three activities, including rough preparation, manufacturing, and polished diamond marketing. The Company is a rough preparer and distributor, catering to small and mid-level diamond manufacturers based in Mumbai and Gujarat. The Company’s sourcing of rough diamonds takes place through Antwerp, Dubai and Moscow. The goods that the Company deals in are four grainers and include sawables/makeable/color brown/natts/flat fancy/cleavage. The Company’s manufacturing facilities are located at Navsari and Surat Special Economic Zone (SurSez), Surat. The Company’s subsidiary is Lypsa Gems & Jewellery DMCC.
LYPS - Lypsa Gems & Jewellery Ltd
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