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
OceanFirst Financial Corp. is a holding company for OceanFirst Bank N.A. (the Bank). The Bank is a full-service regional bank delivering financial products and services, which include commercial and consumer financing, deposit services, and wealth management products and services, throughout New Jersey and the metropolitan markets of Philadelphia, New York, Baltimore, Washington D.C., and Boston. The Bank’s commercial loans include multi-family and commercial real estate loans, commercial construction loans, and commercial and industrial loans. The Bank also offers investment products for sale through its retail branch network. The Bank is focused on growth opportunities in areas, including derivative contracts, trust and asset management, digital product offerings, and equity investments in non-bank finance companies. It operates approximately 37 branch offices, and deposit production facilities located throughout New Jersey and metropolitan area of New York City and Philadelphia.
OCFC - OceanFirst Financial Corp
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.