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
Takaful Oman Insurance SAOG is an Oman-based company engaged in the provision of family and general insurance, in compliance with the principles and rules of Islamic Sharia. The Company is focused on the provision of takaful and Re-takaful business and services through different models, including Wakala, which is a principal-agent agreement is used between the participants and the takaful operator; Mudaraba, which is a principal-manager agreement is used between the participant and the takaful operator; Hybrid, which is a combination of the principal-agent and the principal-manager arrangements is used with Wakala for underwriting activities and Mudaraba for investment activities, and Wakf model. The Company’s takaful business covers family, health, participatory insurance, non-life, accidents, takaful against illness, vehicles, aviation, maritime and naval, transport, fire and damage of properties, takaful against liabilities, and credit and guarantees.
TAOI - Takaful Oman Insurance SAOG
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