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
Whitemud Resources Inc. is a Canada-based company engaged in holding mineral rights to exploit a kaolin deposit in southern Saskatchewan, together with a processing facility located on the property. The Company’s product, Whitemud (MK), is a cement-grade metakaolin that enhances the performance of cement for oil and gas wells and construction applications. Its segments include Metakaolin and Commodities. The Metakaolin segment is focused on mining, processing, and marketing kaolin and metakaolin. Its Commodities segment operates through Midstream Energy Partners, which is engaged in marketing and logistics of liquefied petroleum gas (LPG) commodities in addition to its kaolin and metakaolin products. It uses a process that minimizes environmental impact. Its mine and processing facility at Wood Mountain are located near Assiniboia in Southern Saskatchewan, which is approximately 225 kilometers southwest of Regina and 55 kilometers north of the United States border at Opheim, MT.
WMK - Whitemud Resources Inc
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