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
Zenith Exports Limited is an India-based company, which is engaged in the business of leather goods and textile fabrics. The Company’s segments include Silk Fabrics/Made-ups, Industrial Leather Hand Gloves/Made-ups, EOU-Silk Fabrics and Yarn. The Company has a weaving unit, namely Zenith Textiles, located at Nanjangud, Mysore. Another unit, namely Zenith Spinners is located at in the village-Dholka, Ahmadabad. The Company operates through three divisions: trading division, weaving division and spinning division. The trading division is engaged in the manufacturing of leather hand gloves and silk fabrics for the handloom. It is also developing new fabric using anti-microbial inherent properties. The Spinning division operates with the name Zenith Spinners, located at Dholka, Ahmedabad, which has suspended its operations.
ZENX - Zenith Exports Ltd
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