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
Veekayem Fashion & Apparels Limited is an India-based company that is engaged in the business of weaving and garment manufacturing. The Company’s business is organized into two main product categories: textile and garments. It is engaged in the manufacturing of grey cloths, including polyester/viscos, polyester cotton, 100 % linen, 100 % wool and Lycra fabrics through weaving process. It manufactures all types of readymade garments for men and women, which includes formal shirts, cotton shirts, formal trousers, cotton trousers, cotton joggers, cotton shorts, pajamas. The Company’s product portfolio includes 100% cotton, which includes Lycra and Non-Lycra, Giza, Supima, blended cotton suiting, such as chief value cotton, polyester cotton, terry rayon suiting and mock linen. It is engaged in the business of manufacturing for various brands. It also caters to exports and local markets in customized designs as requested by its clients and customers in the textile and apparel industry.
VEEK - Veekayem Fashion & Apparels Ltd
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