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 Omaniya Financial Services SAOG is an Oman-based company that provides financial and leasing services for individuals and businesses. The Company is engaged in the hire purchase and lease finance for vehicles and other assets. The Company’s products and services include lifestyle loans, corporate loans, life line loans and fixed deposit. The Company offers a range of finance products for self employed, salaried individuals, transport operators and small and large businesses. Al Omaniya Financial Services is licensed to accept fixed deposits from Small, Medium and Large Corporate Houses. The Company’s major shareholders are Muscat Overseas Co. LLC, HSBC-Mod Pension Fund and Civil Service Pension Fund.
AOFS - Al Omaniya Financial Services (SAOG)
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