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
Siebert Financial Corp. is a diversified financial services company. The Company provides a full range of brokerage and financial advisory services, including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions. The Company’s business lines include retail brokerage, investment advisory, insurance, and technology development, which operate through its wholly owned and majority owned subsidiaries. The Company operates through its subsidiaries Muriel Siebert & Co., Inc. (MSCO), Siebert AdvisorNXT, Inc. (SNXT), Park Wilshire Companies, Inc. (PW), RISE Financial Services, LLC (RISE), Siebert Technologies, LLC (STCH) and StockCross Digital Solutions, Ltd (STXD). MSCO provides retail brokerage services. SNXT provides investment advisory services. PW provides insurance services. STCH provides technology development. RISE is a broker-dealing company.
SIEB - Siebert Financial Corp
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