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
Motilal Oswal Financial Services Limited is an India-based integrated technology-based financial services company. The Company offers a range of services, including retail and institutional broking, financial products distribution. Its customers include resident and non-resident individuals, Hindu undivided families (HUFs), corporates, and other. Its products include intraday trading account, equity trading account, currency trading account, commodity trading account and others. The Company’s offers a diversified range of financial products and services, such as broking and distribution, institutional equities, asset management business, housing finance, private equity, private wealth management, investment banking, loan against securities and investment activities. The range of offerings under Broking and Distribution, institutional equities, investment banking, asset management, wealth management, private equity and housing finance.
MOFS - Motilal Oswal Financial Services Ltd
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