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
National General Insurance Co. PJSC (NGI) is a United Arab Emirates-based public shareholding company engaged in the provision of life and non-life insurance services and products. The Company is organized into two business segments: life insurance and general insurance. The Company’s products include universal life, level term assurance, decreasing term assurance, renewable term assurance, single premium protection, group life insurance, personal accident plan, global corporate protection, motor vehicle insurance, travel insurance, personal accident, householder’s comprehensive, healthNET, lifeline, property, engineering, money insurance and marine insurance, among others. The Company operates through its head office and a network of branches located across the United Arab Emirates.
NGIN - National General Insurance Co PJSC
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