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
Ahli United Bank KSCP, formerly The Bank of Kuwait and The Middle East KSC, is a Kuwait-based public shareholding company engaged in carrying out banking activities in accordance with Islamic Sharia Principles. The Bank provides its products and services through two business segments: Retail and commercial Banking, and Treasury and investment Management. The Retail and Commercial banking segment comprises a range of banking operations covering credit and deposit services provided to customers. The Treasury and Investment Management segment includes correspondent banking, clearing, money market, foreign exchange, sukuk, other treasury and miscellaneous operations, proprietary investment, securities trading activities and fiduciary fund management activities. The Bank uses a common marketing and distribution strategy for its commercial banking operations. The Bank’s principal subsidiary is Kuwait and Middle East Financial Investment Company KSC.
BKME - Ahli United Bank KSCP
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