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
Upstart Holdings, Inc. is a cloud-based artificial intelligence (AI) lending marketplace. The Company’s platform aggregates consumer demand for loans and connects it to its network of Upstart AI-enabled bank and credit union partners. Its AI models are provided to bank partners within a consumer-facing cloud application that streamlines the end-to-end process of originating and servicing a loan. It has built a configurable, multi-tenant cloud application designed to integrate seamlessly into a bank’s existing technology systems. Its configurable platform allows each bank to define its own credit policy and determine the parameters of its lending program. The AI models use and analyze data from all of its bank partners. Its consumers can discover Upstart-powered loans in one of two ways: either through Upstart.com or through a bank-branded product on its bank partners’ own Websites. It also has investments in Upstart Auto Retail, a front-end software-as-a-service application.
UPST - Upstart Holdings Inc
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