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
Kuwait Financial Centre KPSC is a Kuwait-based asset management and investment banking company in the Middle East/North Africa (MENA) region. The Company provides several products and services including asset management, investment banking, real estate investment, wealth management and research. Its asset management services include diverse proprietary as well as customized investment solutions across mutual funds and specific portfolio management. The Company offers investment banking solutions across equity capital markets and debt capital markets, listings, capital structure advisory, restructuring, mergers and acquisitions advisory, among others. Its real estate investment portfolios focus on assets across residential, commercial, and industrial segments. It has a database of regional businesses for its clients looking for tailored research. Its equity, fixed income and real estate funds include Markaz Real Estate Fund, Markaz Mumtaz Fund, Forsa Financial Fund, among others.
MARKZ - Kuwait Financial Centre KPSC
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