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
Mittal Life Style Limited is an India-based company that is engaged in the supply of bottom-weight fabrics and denim. It operates through the Trading of the Fabric segment. The Company is engaged in the business of fabrics and garments manufacturing, designing, trading, and exporting and importing fabrics and garments. It is also engaged in the business of manufacturing, processing, weaving, bleaching, dyeing, knitting, importing, exporting, and dealing in all kinds of silk, art silk, cotton, rayon, wool and manmade fabrics, cloths and textile goods. It also carries on the business as manufacturers, spinners, sizers, twisters, crimpers, texturizers, dyers, processors, dealers, importers, exporters and distributors of cotton, synthetic or nylon fibers, threads and yarns of all descriptions. It offers a range of products, such as polyester dobby, cotton knits, satin silky, polyester shirting, satin silky and polyester knits, cotton satin silky, white ecru and cotton dyed fabrics.
MITT - Mittal Life Style Ltd
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