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
Maha Rashtra Apex Corporation Limited is an India-based company engaged in the business of financial activities and other related services. The Company is involved in the business of leasing and hire purchase. The Company has over nine branches and one franchisee across the country with a network of agents for pursuing its business activities, such as deposit acceptance, hire purchase, lease financing and other business. The Company has branches in Bangalore, Mangalore, Chennai, Mumbai, Cochin, Secunderabad, Kasaragod, Kannur, Kollam, and New Delhi. The Company’s subsidiaries include Maharashtra Apex Asset Management Company Limited, Eldorado Investments Company Private Limited, and Manipal Crimson Estate & Properties Private Limited.
MAAC - Maha Rashtra Apex Corporation Ltd
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