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
First Takaful Insurance Company KPSC is a Kuwait-based company which is primarily engaged in carrying out all types of insurance takaful activities (co-operative insurance) and related activities, including insurance and reinsurance, in accordance with Islamic Sharia principles. The Company offers its products and services mainly through two segments, namely Investment and Takaful insurance. Its insurance policies cover motor, marine and aviation, fire and general accident, and life and medical insurance. The Company also provides insurance and reinsurance consultancy and technical studies to companies involved in similar activities. The Company has investment in the associates, namely Weqaya Takaful Insurance Company SSC and First Financial Holding Company – WLL.
FTIK - First Takaful Insurance Company KPSC
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