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, and corporate stock plan administration solutions. The Company conducts its business through its seven subsidiaries, Muriel Siebert & Co., Inc. (MSCO), Siebert AdvisorNXT, Inc. (SNXT), Park Wilshire Companies, Inc. (PW), Siebert Technologies, LLC. (STCH), RISE Financial Services, LLC, (RISE) and StockCross Digital Solutions, Ltd. (STXD). MSCO provides online and traditional discount brokerage services. MSCO offers a range of products and services, including self-directed trading, market making and fixed income investments, stock borrow/stock loan and equity compensation plans. SNXT provides investment advisory services. PW provides insurance services. STCH provides robo-advisory technology development. RISE is a broker-dealing company.
SIEB - Siebert 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.