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 Wathba National Insurance Company PJSC (AWNIC) is a United Arab Emirates-based insurance provider. The Company’s principal activity is transaction of general insurance and re-insurance business of all classes. The Company offers personal insurances, which include Motor Insurance, Yacht and Boat Insurance, Home Insurance, Jet ski Insurance, and Travel Insurance; and Commercial Insurance, which include property insurance, marina cargo insurance, marine hull insurance, liability insurance, engineering insurance. The Company operates approximately 8 branches. The Company has 1 subsidiary , which is AWNIC Investments Limited and approximately 3 associates companies, which are Vision Insurance SAOC, UR International Insurance, and FOODCO Holding PJSC.
AWNIC - Al Wathba National Insurance Company PJSC
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