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
Standard Premium Finance Holdings, Inc. is a premium insurance financing company. The Company is specializes primarily in commercial policies. The Company, through its subsidiary Standard Premium Finance Management, operates licensed insurance premium finance company in Florida, Georgia, North Carolina, South Carolina, Texas, Arizona, Virginia, Arkansas, Nebraska, Mississippi, Maryland, Colorado, Ohio, Louisiana, Tennessee, Massachusetts, Minnesota, and Alabama. It targets premium financing loans from $1,000 to $15,000, with repayment terms ranging from six to 10 months. Loans are originated primarily through a network of insurance agents solicited by its in-house sales team and marketing representatives. The Company’s premium finance loans are provided to small and medium size businesses to finance the purchase of commercial property and casualty insurance policies with a one-year term. Its loans have a nine to 10-month term.
SPFX - Standard Premium Finance Holdings Inc
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