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
Muscat Finance Company Limited SAOG is an Oman-based company engaged in the activity of installment financing and leasing of vehicles and other assets, debt factoring, working capital and receivable financing activities. The Company’s products and services consist of Auto Plan, focusing on new vehicle financing as well as financing for used vehicles on a selective basis; Corporate Leasing, providing lease finance for all kinds of plant and equipment, office automation products and vehicle fleet; Debt Factoring, including finance against credit sales, debt collection services, sales accounting and insurance against bad debts; Working Capital Finance, providing working capital financing and financing against immovable property; Term-Bridge Loans, which offers pre-invoice financing facilities to small and medium enterprises, and corporate clients, and Corporate Deposits. Its main shareholders are Fincorp Investment Co. LLC, Zawawi Trading Co. LLC and Al Siraj Investment Holding LLC.
MFCI - Muscat Finance Co Ltd SAOG
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