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
SMC Global Securities Limited is a diversified financial services company. It offers a range of services to meet client’s needs, including brokerage services, clearing services, depository services, distribution of third-party financial products, such as mutual fund and initial public offerings, fund management services, research support services and also engaged in proprietary and commodity trading. The Company has three segments. Broking, Distribution & Trading segment comprises of brokerage income earned on secondary market transactions done on behalf of clients, services rendered as depository participant, clearing services, research support services, proprietary trading in securities, commodities, derivatives and portfolio management services. Insurance Broking segment provides a complete array of services in life insurance and general insurance category. Financing Business segment offers spectrum of financial products focusing on small and medium enterprises customers.
SMCG - SMC Global Securities Ltd
Report
There was a problem reporting this post.
Block Member?
Please confirm you want to block this member.
You will no longer be able to:
See blocked member's posts
Mention this member in posts
Please allow a few minutes for this process to complete.