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
Qatar Islamic Insurance Company QPSC is a Qatar-based company engaged in the business of underwriting general, Takaful (Life) and health non-interest insurance in accordance with the Islamic Sharia. The Company’s products are structured into 11 divisions: the Motor insurance division includes motor compulsory insurance, motor optional insurance, motor comprehensive insurance (Al Ashmal) and road travelers orange card; the Marine insurance division includes marine cargo insurance, marine hull insurance, aviation hull insurance and freight insurance; the Engineering insurance division provides coverage for contractors engaged in building projects, such as roads, residential and commercial complexes, ports and tunnels power stations, among others; Fire Insurance; General Accident insurance; Personal & Professional Liability Insurance; Takaful (Life) Insurance; Balsam Medical Insurance; Program Heya; Money/Bankers Insurance, and Electronics & Computer Hardware/Software Insurance.
QIIC - Qatar Islamic Insurance Company QPSC
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