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
Solidarity Bahrain BSC, formerly known as Al Ahlia Insurance Company BSC, is a Bahrain-based company, which provides a range of sharia’h compliant protection products. The Company operates through five segments: Non-motor segment, which includes fire, marine, general accident, liability and engineering lines of business; Motor segment includes insurance for motor vehicles; Life and medical expense cover; Group Life segment includes group life and credit life business, as well as Family Takaful, which includes long term, decreasing term and level term business. The Company also offers its services in Jordan, Saudi Arabia and Luxembourg. Solidarity Bahrain is a Subsidiary of Solidarity Group Holding.
SOLID - Solidarity Bahrain BSC
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