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
Methaq Takaful Insurance Company PSC (Methaq) is a United Arab Emirates-based public shareholding company that offers insurance and reinsurance products and services in accordance with Islamic sharia principles. The Company is organized into three business segments; the Motor segment covers damage to motor cars and related property and injuries or deaths of persons; the Medical segment covers groups of individuals for medical treatment, and the Others segment covers insurance of engineering, property, marine and personal, general and third party accident. The Company offers its insurance solutions for individual and corporate customers. The Company operates through its head office and a network of branches located in the United Arab Emirates.
METHAQ - Methaq Takaful Insurance Co PSC
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