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
United Finance Company SAOG is an Oman-based public shareholding company that offers leasing and financial services solutions. The Company offers a range of products both conventional and non-conventional finance, corporate deposits and Banc assurance. The Company is principally involved in the provision of vehicle and equipment financing, composite loans, bridge loans, hire purchase, debt factoring, and financing of receivables and leasing in Sultanate of Oman. The Company operates though its head office in Muscat, and a network of branches located in Ibra, Ibri, Firq, Falaj Al Qabail, Salalah, Barka and Mawelah. As of December 31, 2011, the Company’s major shareholders included, among others, Oman Hotels & Tourism Company SAOG and First National LLC.
UFCI - United Finance Co SAOG
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