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
Bahrain Islamic Bank BSC (BISB) is a Bahrain-based commercial bank involved in the provision of Islamic Sharia-complaint banking and financial services. The Bank offers its services through two divisions: Retail Banking and Corporate Banking. The Retail Banking offers financing products such as Tasheel, Auto and Property finance products; credit cards services; accounts services, such as current and savings, tejoori, iqra, vevo and investment deposit accounts, and e-Banking, among others. The Corporate banking segment offers real estate finance, structured finance, small and medium enterprises (SME) banking, financial institutions (FI) & government, treasury services, private banking, very important person (VIP) banking, trade finance, as well as other Islamic financial and investment policies. BISB offer its services through a network of 13 branches distributed across Bahrain with a total 48 automated teller machine (ATM) network.
BISB - Bahrain Islamic Bank BSC
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