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 Insurance Company PSC is a United Arab Emirates-based public shareholding company engaged in general life and non-life insurance activities. The Company is organized into two business segments: the General Insurance segment covers all classes of insurance, including fire, marine, motor, general accident and miscellaneous, and the Investments segment includes investments in the United Arab Emirates marketable equity securities, term deposits with banks and investment properties. In addition, the Company also provides medical, travel and other insurance, including banker’s blanket bond insurance, professional indemnity insurance, products liability insurance, medical malpractice insurance and ship repairer’s legal liability insurance. The Company operates through its head office in Sharjah, and has branches in Dubai and Ajman.
SICO - Sharjah Insurance Co PSC
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