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 Madina Insurance Co SAOG (Al Madina Takaful), formerly Al Madina Gulf Insurance Co SAOC (AMGI), is an Oman-based company that is engaged in the provision of comprehensive insurance and risk management services and solutions to its clients. AMGI provides different insurance services, including fire and allied perils, property all risks, business interruption, marine cargo, marine hull, motor , third party liability, product liability, workmen’s compensation and employer’s liability, director’s and officer’s liability, medical and health, erection all risk, contractor’s all risk, contractor’s all risk, contractor’s plant and machinery, machinery breakdown, electronic equipment, advanced loss of profits or delayed start-up, deterioration of stock, fidelity guarantee, personal accident and group personal accident, money insurance, stock broker’s indemnity, and group term life cover.
AMAT - Al Madina Insurance Company SAOG
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