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
ProAm Explorations Corporation is a Canada-based company. The Company operates in a single reportable operating segment, namely the acquisition, exploration and development of resource properties. Its principal business activities are oil and gas production and the exploration and development of its exploration and evaluation assets (E&EA). The Company is in the process of exploring and developing its E&EA. The Company’s exploration and evaluation assets are Tucker County, Samuel Lake Project, and Jet Property. The Company owns working interests in a number of oil and gas properties, such as Muskingum Country, Eastern Ohio; Indiana County, Pennsylvania; Logan County, Arkansas, and Oklahoma City, Oklahoma. Its subsidiaries include OSEC Petroleum Canada Limited, OSEC Trading Crop, and OSEC Petroleum Inc.
PMX - ProAm Explorations Corp
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