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
Payfare Inc. is a Canada-based financial technology company. The Company provides instant payout and digital banking solutions for the gig economy. The Company partners with platforms and marketplaces, such as Uber, Lyft and DoorDash to provide financial security and inclusion for their workforce. It provides gig workers with instant access to their earnings and a digital banking experience allowing them to focus financially rather than having to rely on the traditional banking system, payday loans, overdrafts and credit cards. The Company operates in Canada, United States and Mexico. Its wholly owned subsidiaries include Payfare International Inc. and Payfare Mexico Inc. S.A. de C.V.Ignore suggestion
PAY - Payfare Inc
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