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
Wealth First Portfolio Managers Limited is an India-based financial services provider. The Company is engaged in the business of providing share and stock broking services, portfolio management, mutual funds distribution, depository participant services and to invest, buy, sell or otherwise deal in all kinds of securities and other related activities. It is engaged in broking services, distributor of mutual fund, govt. securities trading, pension products, fixed deposit, portfolio management service (PMS), direct bonds, taxable and tax free bonds. The Company is also engaged in providing demat services as a depository participant of Central Depository Services (India) Ltd (CDSL). Its portfolio of services covers investment strategy, asset allocation, tax planning, broking services, treasury management, risk management and retirement planning. Its subsidiary is Wealth First Investment Advisers Private Limited.
WEAL - Wealth First Portfolio Managers Ltd
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