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
Emirates Insurance Company PSC is a United Arab Emirates-based company engaged in general insurance and reinsurance activities. The Company is organized into two main business segments: the Underwriting of general insurance business segment covers all classes of general insurance, such as fire, marine, motor, general accident and miscellaneous; and the Investments segment includes investments in marketable equity securities and investment funds, development bonds, term deposits with banks and investment properties and other securities. The Company’s products and services are structured into 12 divisions, namely Business, Corporate, Employee Benefit, Engineering, Financial, Group Medical, Liability, Marine & Aviation, Motor, Oil & Gas, Personal lines and Property. The Company operates though its head office in Abu Dhabi, and branch offices in Dubai, Al Ain, Jebel Ali Freezone and Sharjah.
EIC - Emirates Insurance Company PSC
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