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
Ulusal Faktoring AS is a Turkey-based finance company. The main field of activity of the Company are domestic and international factoring transactions. All activities of the Company are mainly carried out in a single geographical region (Turkey) and in a single commercial area (factoring). Ulusal Factoring started its activities in 2001 and provides factoring services to its 8,000 customers with 19 branches in 14 different cities across Turkey, with a staff of nearly 250 employees. The company carries out its activities within the framework of the financial leasing, factoring and financing companies law and is approved and audited by the Banking Regulation and Supervision Agency (BDDK) and the Capital Markets Board (CMB).
ULUFA - Ulusal Faktoring AS
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