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
Al Manar Financing and Leasing Co KSCC is a Kuwait-based Islamic financial institution that is engaged mainly in the provision of a range of leasing and financing services for businesses and individuals for the purchase of vehicles, furniture, marine equipment, computers, real estate and educational and medical services. The Company’s various activities include introducing several leasing products such as operational leasing and lease-to-own products, doing transactions related to financial stocks, investing in or managing investment of investment and leasing funds inside and outside of the State Kuwait, managing portfolios of various types, investing the money of its clients via different investment tools locally and globally and conducting economic and technical studies and researches for the clients. In addition, Al Manar Financing and Leasing Co KSCC is active in investing in several economic sectors such as real estate, financial, industrial and agricultural sectors.
ALMAN - Al Manar Financing & Leasing Co KSCP
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