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
Gulf Petroleum Investment Company KSCP (GPI) is a Kuwait-based Sharia-compliant public shareholding company that operates in the oil, gas and petrochemical sectors. The Company’s main activities include the provision of consulting, financial, technical and specialized services to governments and oil and petrochemical companies in the fields of marketing, refining, production, investment, financial, planning, overseas transportation, organizing, training and other fields related to oil and petrochemicals. It is also engaged in oil exploration outside Kuwait, and the ownership and management of gas stations locally and internationally. GPI has operations in the Middle East, the Arabian Gulf and the North Africa regions. The Company’s wholly owned subsidiaries include Al Haram International Drilling Company Ltd and Al Haram Drilling Company.
GPIK - Gulf Petroleum Investment Company KSCP
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