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 Western Life Group, Inc. is a stock life insurance company. The Company’s segments include Domestic Life Insurance, International Life Insurance, Annuities, ONL & Affiliates, and All Others. Its Domestic Insurance operations are licensed to do business in all states and the District of Columbia, except for New York. Its products marketed are annuities, universal life insurance, and traditional life insurance. Its International Insurance operations consist solely of a closed block of in-force policies. The Company offers a portfolio of individual whole life, universal life and term insurance plans, and annuities, including supplementary riders. Its life products provide protection for the life of the insured and, in some cases, allow for cash value accumulation on a tax-deferred basis. Its annuity products include flexible premium and single premium deferred annuities, equity-index (fixed-index) annuities and single premium immediate annuities.
NWLI - National Western Life Group Inc
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