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
Olympia Financial Group Inc. conducts its operations through its subsidiary, Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company administers self-directed registered plan accounts, provides currency exchange and payment services, corporate trust, and transfer agency services. Its Investment Account Services Division specializes in the administration of registered plan accounts, including RRSPs, RRIFs, LIRAs, LIFs and TFSAs. The Private Health Services Plan Division markets, sells and administers health and wellness benefits to business owners. The Currency and Global Payments Division allows corporations and private clients to buy and sell foreign currencies at competitive rates. The Exempt Edge Division focuses on the provision of information technology services to exempt market dealers, registrants, and issuers. The Corporate and Shareholder Services Division provides transfer agent and registrar services to public and private issuers across Canada.
OLY - Olympia Financial Group Inc
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