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
KFIC Invest KSCP is a Kuwait-based investment company. The Company’s activities are organized to following segments: Finance segment, which provides consumer loans to individuals and commercial loans to corporate entities and individuals; Asset management segment, which provides portfolio management and custody services for clients as well as management of mutual funds; Investment and corporate finance segment, which monitors the parent company’s direct investments and provides investment banking services as well as financial consultancy services for the clients; and Financial brokerage and Online trading segment, which provides brokerage and online trading services to clients. The Company operates approximately 11 subsidiaries, which include KFIC Financial Brokerage KPCC, Al Watheb for management Consultancy company KPCC, KFIC Real Estate Company SPC, Smart Car for Rental and Leasing Company SPC, and Riffa District for shares and securities, among others.
KFSK - KFIC Invest KSCP
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