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
Noor Financial Investment Co KPSC (Noor) is a Kuwait-based public shareholding company engaged in the investment and financial activities in Kuwait, the Middle East, Asia and other emerging markets. The Company offers its services through four divisions, namely Investment Banking, Asset Management, Risk Management, and Corporate Governance. The Company offers a range of products and services, including advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and underwriting, managing proprietary and client portfolios of quoted and unquoted securities, real estate and funds. The Company is a subsidiary of National Industries Group Holding SAK. In Aug, 2013, the Company divested its stake in Noor Kuwait LBO Fund LP. In December, 2013, the Company divested its shares in Pakistan-based Meezan Bank Ltd (MBL), representing 49% of MBL’s share capital.
NOOR - Noor Financial Investment Co KPSC
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