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
Majan Glass Company SAOG is an Oman-based company that specializes in the manufacturing and sale of empty glass containers for commercial and industrial uses. The Company produces glass containers for soft drinks, juice, food and beverages industry. The Company’s plant has production capacity of 220 metric tons of empty glass containers per day with two furnaces and equipments designed to produce glass containers in 88 millimeters (ml) to 1000 ml range in different sizes and in flint and colored glass. The Company exports its products to various countries in all over Gulf Cooperation Council (GCC) and Far East regions.
MGCI - Majan Glass Co SAOG
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