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
Boursa Kuwait Securities Company K.P.S.C is a Kuwait-based company engaged in the activity of a securities exchange. The Company focuses on operation of a securities exchange designed for matching bid and ask offers for securities, following the procedures of trading, and performing the usual functions of securities markets; the provision of design, development and processing of electronic data services related to the field of operating securities exchanges; the provision of support services for third parties’ account in the field of securities exchange; the provision of financial matters related consultations and preparation of feasibility studies in the field of securities exchange, as well as the establishment or participation in the establishment of entities inside the state of Kuwait or abroad, of various legal forms within the scope of securities exchange markets business, among others.
BOURSA - Boursa Kuwait Securities Company KPSC
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