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
Ray Sigorta AS is a Turkey-based insurance company. The Company offers life, accident, fire, shipping, engineering, motor vehicle, travel, health, agricultural, home, workplace, transportation and medical insurance plans, as well as such special insurances, as aviation, legal protection, engineering, commodity marine/cargo and hull insurances. As of December 31, 2011, it offered its services through 788 agencies, 64 bank branches, 59 brokers, 6 leasing and 818 contracted car service points in 73 provinces and 1,908 contracted health institutions. The Company serves individual policyholders in various business segments, including transportation, media, manufacturing, marketing and distribution. As of December 31, 2011, it was a 81.59%-owned subsidiary of TBIH Financial Services Group N.V. It is a part of the Vienna Insurance Group.
RAYSG - Ray Sigorta AS
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