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
Olivut Resources Ltd. is a Canada-based exploration and development company. The Company is engaged in the acquisition, exploration, and evaluation of mineral properties for the purpose of mining diamonds and other precious and base minerals. The Company’s projects include the HOAM project and Seahorse project. It has a 100% interest in certain permits in the HOAM project located in the Mackenzie Region, Northwest Territories, Canada. The HOAM Project Area covers part of the Interior Plains region south of Great Bear Lake in the southwestern part of the Northwest Territories. The community of Fort Simpson is located approximately 15 kilometers (kms) from the HOAM property in the south and the village of Deline is located about 20 kms from the project area in the north. It also holds 50% interest in the Seahorse Project located in Canada’s Northwest Territories.
OLV - Olivut Resources Ltd
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