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
Aljazira Takaful Taawuni Company SJSC is a Saudi Arabia-based company engaged in the provision of insurance products and services in accordance with Islamic Sharia principles. The Company’s activities are divided into two segments: Insurance individual segment offers life insurance products on an individual basis including unit linked investment oriented products, as well as Insurance group life segment offers life protection programs to the members of organizations on a group basis and credit protection benefits in respect of personal loan given by financing organizations.
8012 - Aljazira Takaful Taawuni Company SJSC
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