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
Abu Dhabi National Insurance Company PSC (ADNIC) is a United Arab Emirates-based public shareholding company engaged in the provision of all classes of insurance and reinsurance products and services. The Company is organized into two main business segments: Underwriting of marine insurance business, covering all classes of general insurance, including marine cargo hull and aviation, and Underwriting of non-marine insurance business, which covering all classes of insurance, including fire, engineering, general accident, motor and medical. The Company’s products are categorized into three types: Personal Insurance offers a range of personal/individual insurance policies; Business Insurance offers a set of insurance for a range of assortment of business insurance needs, and Overseas Insurance offers a range of insurance products for the Company’s overseas clients.
ADNIC - Abu Dhabi National Insurance Company PSC
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