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
QLM Life & Medical Insurance Company Q.P.S.C. is a Qatar-based Company, which provides medical and life insurance products. The Company’s operating segments include Medical Insurance and Life insurance. Medical Insurance includes Group Medical, which provides optimum, affinity, privilege, and prestige insurance plans, and Individual Medical that provides services to individuals and family members. Life Insurance offers group life, group credit life, and individual life insurance policies. Group Life provides for the policyholder’s employees and employees’ dependents compensation in the event of the employee’s death or other covered risks. Credit Life provide solutions to banks and other financial institutions to protect the borrower and the lender if a loan cannot be repaid because of death or other causes. Individual Life provides financial security to an insured person’s family. The Company operates in the Gulf Cooperation Council (GCC) region, including Oman, UAE and Kuwait.
QLMI - QLM Life & Medical Insurance Company QPSC
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