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
Saudi British Bank SJSC (SABB) is a Saudi Arabia-based commercial bank. It provides a range of banking services as well as Shariah approved products. It operates under the following segments: Retail Banking, which caters mainly to the banking requirements of personal and private banking customers including deposits, current and savings accounts, personal finances and credit cards; Corporate Banking, which caters mainly to the banking requirements of commercial and corporate banking customers including deposits, current accounts, loans, finances and other credit facilities; Treasury, which caters mainly to capital markets, foreign currency transactions and trading in financial derivatives, as well as Others, which includes activities of the Bank’s investment in a joint venture and an associate. In addition the Treasury segment caters to management of the Bank’s liquidity, currency and special commission rate risks, and it is responsible for funding the Bank’s operations.
1060 - Saudi Awwal Bank SJSC
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.