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
Arrow Financial Corporation is a bank holding company. The banking subsidiaries are Glens Falls National Bank and Trust Company (GFNB), and Saratoga National Bank and Trust Company (SNB). The Company provides a broad range of banking and insurance services across northeastern New York, including online and mobile banking, wealth management, money market and deposit accounts, and mortgage, consumer and commercial loans. Its loan portfolio consists of Commercial, Commercial Real Estate, Consumer Loans, and Residential. It offers a variety of loan options to meet the specific needs of its commercial customers including term loans, time notes and lines of credit. It offers commercial real estate loans to finance real estate purchases, refinancings, expansions and improvements to commercial properties. Its consumer loans primarily comprised automobile loans. It finances the purchases of automobiles indirectly through dealer relationships located throughout upstate New York and Vermont.
AROW - Arrow Financial Corp
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