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
Bahrain Kuwait Insurance Company BSC is a Bahrain-based public shareholding company engaged in the provision of insurance services and products. The Company is organized into three business segments: the Fire and general segment offers insurance policies to cover various risks of fire, general accident and engineering, medical, group life and special contingency; the Motor segment offers insurance policies to cover risks of motor third party, motor comprehensive and extended warranty, and the Marine and aviation segment offers insurance policies to cover risks of marine cargo, marine hull and marine aviation. The Company operates through its head office and a network of four branches in the Kingdom of Bahrain, and a branch office in the State of Kuwait. In March, 2014, the Company sold a building in the diplomatic area.
BKIC - Bahrain Kuwait Insurance Co BSC
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