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
Bank of Bahrain and Kuwait BSC is a Bahrain-based entity which is engaged in commercial banking activities. The Company has five business segments which include Retail banking segment which is principally handling individual customers’ deposits and providing consumer finance type loans, overdrafts, credit facilities and funds transfer facilities, credit cards and foreign exchange. Corporate banking segment principally handling loans and other credit facilities, deposit, and current accounts for corporate and institutional customers in Bahrain. International banking segment handling loans and other credit facilities, deposit, and current accounts for international corporate and institutional customers, this also covers the operations of the overseas units. Investment and treasury activities segment provides money market, trading, and treasury services as well as the management of the group’s funding operations. Other activities segment includes business process outsourcing services.
BBKB - Bank of Bahrain and Kuwait BSC
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