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
Canadian Western Bank is a diversified financial services company. It provides full-service business and personal banking, specialized financing, comprehensive wealth management offerings, and trust services. It offers specialty business banking services for small-and medium-sized companies with a focus on general commercial, equipment financing, construction financing, commercial real estate financing, real estate construction and project financing and equipment financing and leasing. It also provides full-service personal banking options, including chequing and savings accounts, loans, mortgages and investment products. Its banking services include online banking, ATM banking, creditor insurance, resources for seniors and order cheques online. Its CWB Business Advantage Account and CWB Business Unlimited Account offer solutions for day-to-day banking and 24/7 online access. It has its operations in British Columbia, Alberta, Ontario, Saskatchewan, Quebec, Manitoba and others.
CWB - Canadian Western Bank
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.