Frequently Asked Questions [PDF]

Investment/Dividends Purification ratios, why is that? A4: Purification methodology is defined within the Shariah Mandat

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Idea Transcript


Frequently Asked Questions

Frequently Asked Questions Q1: Where are my favorite companies saved? And how secure is this? A1: By default, users’ data (favorites list) are saved on IdealRatings server in an encrypted format. Being encrypted secures user’s privacy with no one has the ability to inspect the stocks that the user is interested in. IdealRatings also gives the user the option to disable any saving on the server where you can have your data saved on your computer’s browser through cookies. Please refer to your browser’s documentation for instructions on how cookies are enabled. Q2: Will I still see my Favorites list upon logging in from a different computer? A2: Only if your data is saved on IdealRatings server (default settings), all your settings will be preserved if you login from a different computer. To switch to local storage, please contact [email protected] Q3: How many stocks can I add to my favorites? A3: There is no limitation on the number of stocks you can add to your list Q4: Upon changing the Shariah Mandate from the Rulebook selector, sometimes, the Purification Ration table switches between Investment/Dividends Purification ratios, why is that? A4: Purification methodology is defined within the Shariah Mandate you are following, where some mandates base purification on capital gains, while other mandates bases it on gains from dividends. Please refer to your mandate definition for details about purification methodology for this mandate

Frequently Asked Questions

Q5: What’s the Investment Purification ratio? and how to calculate my purification? A5: Investment purification is controlled by the Non-permissible income per share generated within certain time period - regardless of the compliance status of the company and without consideration of neither the dividend distribution nor the capital gains. Investment purification takes into consideration the buy and sell dates of the stocks as well as the Start & End periods for the purification. That produces the following scenarios a. b. c. d.

If Buy date > Start date, statements since the buy date is taken into consideration If Buy date < Start date, statements since the Start date is taken into consideration If Sell date < End date, statements till the sell date is taken into consideration If Sell date > End date, statements till the End date is taken into consideration

As per the investment purification guidelines, If a stock is not held at the period end date, whether annual or quarter, the non permissible income of that interim is not considered as eligible for purification. Q6: What’s the dividends purification? and how to calculate my purification? A6: To calculate dividend purification for a company that FAILs the rulebook while being held; purify the entire dividend amount, while if it PASSES, only the non-permissible portion of revenue (represented as the “Purification Ratio” for the corresponding dividend entry) from the distributed dividend. For example:  

nd

May 22 , Dividend value was $0.14 per share, the compliance status of the company was marked as FAIL so the purification per share should be equal to the total value of the dividend th November 27 , Dividend distributed was $0.08 & the compliance status for the company was PASS, and there were no non-permissible income (ratio shows 0%) defined for the company at that quarter. The purification per share value was thus $0

Q7: What is the Fiscal Period End Date? A7: A fiscal period is a period used for calculating annual/interim (yearly, semiannually, or quarterly) financial statements in businesses. In many jurisdictions, regulatory laws regarding accounting and taxation require such reports once per twelve, six, or three months respectively, but do not require that the fiscal year reported on constitutes a calendar year (that is, 1 January to 31 December). Fiscal years vary between businesses and countries. The "fiscal year" may also refer to the year used for income tax reporting. Q8: How can I see detailed description for the selected Shariah Mandate? A8: Through the Rulebook tab, changing the mandate from the Rulebook selection list (in the tool bar), will display a text description for the selected mandate. A link to more detailed sources is usually provided within.

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