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
Al Buhaira National Insurance Company PSC is a United Arab Emirates-based company engaged in the insurance sector. The Company provides, along with its subsidiaries, all types of insurance, other than savings and accumulations of funds. The Company is organized into two main business segments: the underwriting of general insurance business segment covers all classes of general insurance, including fire, marine, motor, general accident and miscellaneous, and the Investments segment incorporates investments in marketable equity securities, term deposits with banks and investment properties. As of December 31, 2011, the Company held 100%-stake in its subsidiary, namely Al Buhaira Economic Investments Establishment. The Company operates through its head office in Sharjah, and a network of branches located in Dubai, Abu Dhabi, Al Ain, Khorfakkan, Fujairah and Ajman.
ABNIC - Al Buhaira National Insurance Company PSC
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