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
Mmtec Inc is a China-based company primarily engaged in asset management services based on platforms. The Company is principally engaged in providing complete suite trading solutions, including fund creation, distribution, custody, trading and settlement services, to help these financial institutions accelerate their integration into overseas markets. The Company’s systems include ETN counter business systems, PTN private equity investment management systems, personal mobile trading client systems, PC trading client systems, personal and institutional integrated account management systems, and quantitative investment trading platforms.
MTC - MMTEC Inc
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