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
TCI Finance Limited is an India-based non-banking finance company (NBFC). The Company is primarily in the business of various financial services. The Company’s services include loans against securities, commercial vehicle finance, patents trademark and copyright, global intellectual property (IP) convention, IP valuation and other financial services. Its commercial vehicle finance provides various types of loans arranged for commercial vehicles, such as new, used/refinance/re-purchase finance and balance transfer. Its IP valuation services help the organization in confronting the opportunities in mergers, acquisitions, divestitures, corporate reorganizations, public and private equity financings, securitization with IP assets. It also manages business funding, inter-corporate deposits, e-commerce seller funding and other financial products. The Company’s subsidiary, ITAG Business Solutions Ltd, is engaged in the business of knowledge process outsourcing in the domain of IP services.
TCII - Tci Finance Ltd
Report
There was a problem reporting this post.
Block Member?
Please confirm you want to block this member.
You will no longer be able to:
See blocked member's posts
Mention this member in posts
Please allow a few minutes for this process to complete.