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
Methanol Chemicals Company SJSC (CHEMANOL) is a Saudi Arabia-based joint stock company engaged in the production and distribution of petrochemical products. CHEMANOL manufactures grade methanol derivatives, such as aqueous and urea formaldehydes, formaldehyde derivatives, super plasticizers and various amino resins, which are used in agricultural fertilizers, pharmaceuticals, solvents, intermediates, laminates/wood industry, plastics, paper and concrete admixtures. The Company’s product range includes aqueous formaldehyde solutions, urea formaldehyde concentrate, hexamethylene tetramine, paraformaldehyde, urea formaldehyde powder resin, melamine formaldehyde powder resin, melamine urea powder resin, sulphonated naphthalene formaldehyde liquid, sulphonated naphthalene formaldehyde powder, sulphonated melamine formaldehyde liquid, methanol, carbon monoxide, monomethylamine, pentaerythritol and sodium formate.
2001 - Methanol Chemicals Company SJSC
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