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
Nova LifeStyle, Inc. is a designer and marketer of contemporary styled residential and commercial furniture. The Company’s family of brands include Nova LifeStyle, Diamond Sofa and Nova Living. Its product lines feature upholstered, wood and metal-based furniture pieces. It classifies its products by room, designation or series, such as living room, dining room, bedroom and home office series, and by category or product types, such as sofas, chairs, dining tables, beds, entertainment consoles, cabinets and cupboards. The Company also sells physiotherapeutic jade mats for use in therapy clinics, hospitality, and real estate projects in Malaysia and other regions in Southeast Asia. Its products are manufactured primarily from medium-density fiberboard (MDF) board, and particleboard covered with veneers or lacquers and combined with other materials, including steel, glass, marble, leather, jade and fabrics. The Company primarily operates in the North America and Asia markets.
NVFY - Nova LifeStyle Inc
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