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
United Cooperative Assurance Company SJSC (UCA) is a Saudi Arabia-based public shareholding company engaged in the provision of cooperative insurance and reinsurance products and services within the Kingdom of Saudi Arabia. The Company is organized into three business segments: Health Insurance, Motor Insurance and Other Classes. The Health insurance segment covers medical costs, medicines, and all other medical services and supplies. The Motor Insurance segment provides coverage against losses and liability related to motor vehicles, excluding transport insurance. The Other classes segment includes all other insurance products and services, including marine, property, accident and engineering, among others.
8190 - United Cooperative Assurance Company SJSC
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