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
Manazel Holding Co KPSC is a Kuwait-based public shareholding company engaged in the housing and real estate sector. The Company operates through two business segments: Real Estate and Investment. The Real Estate segment is engaged in the ownership, sale, purchase and development of real estate and land, as well as property management. The Investment segment is engaged in investment and portfolios managed by specialized companies. The Company carries out its activities in accordance with Islamic sharia principles. The Company’s subsidiaries include Manazel Real Estate Developments and Manazel Developments, which are engaged in residential, commercial, industrial and touristic property investment, development and sale. The Company’s projects include, among others, Layan Project, a residential project of 442 luxury residential villas spread over a million square meters of land in Cairo, Egypt, and Al Sura Project which is a residential development project in Kuwait.
MANK - Manazel Holding Company KPSC
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