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
Mogo Inc. is a Canada-based digital finance company. The Company provides digital solutions to help consumers get in control of their financial health. Through the Mogo application (app), consumers can access a digital spending account with Mogo Visa Platinum Prepaid Card featuring automatic carbon offsetting, monthly credit-score monitoring and identity (ID) fraud protection, and access to personal loans and mortgages. Its MogoTrade app offers commission-free stock trading that helps users to make an investment. The Company, together with its subsidiary Moka, offers automated, fully managed flat fee investing to Canadians. It also offers digital loans and mortgages. Through its wholly owned subsidiary, Carta Worldwide, the Company also offer a digital payments platform that powers card programs for both established global corporations and fintech companies in Europe and Canada.
MOGO - Mogo Inc
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