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
Sharjah Islamic Bank PJSC is a United Arab Emirates-based financial institution that offers banking, financial and investment services in accordance with Islamic Sharia principles. The Bank is active mainly in three business segments: the Government and corporate segment provides a range of Islamic financial products and services to companies, institutions and government departments; the Retail segment provides a range of Islamic financial services to individuals, and the Investment and treasury segment includes investments of the Bank and other money market activities. The Bank operates a network of 26 branches located across the United Arab Emirates. The Bank’s wholly owned subsidiaries include Sharjah National Hotels (SNH), which is engaged in operating hotels and resorts, catering and related services; Sharjah Islamic Financial Services (SIFS), is involved in conducting intermediation in dealing in local market Sharia-compliant services; Contact Marketing, and ASAS Real Estate.
SIB - Sharjah Islamic Bank PJSC
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