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
Novatti Group Limited is a fintech company that enables businesses to pay and be paid from any device, anywhere. The Company’s Technology segment develops, deploys, and supports specialized mobile and alternate payment technology, primarily through the deployment of the Novatti Platform. The Business Automation segment automates business processes, including customer engagement, billing, collections, and others. The Alternative Payments segment offers customers an alternative payment method in the form of a prepaid cash voucher. The Banking Services segment offers new banking services to Australian customers with a focus on the migrant demographic. The Issuing segment provides a payment system centered around reloadable prepaid cards that meet the needs and wants of international and local university and college students. ATX payments segment provides a large, established payments network across Malaysia. Acquiring segment enables businesses to accept payments online for e-commerce.
NOV - Novatti Group Ltd
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