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
BayFirst Financial Corp. is a bank holding company that operates through its wholly owned subsidiary, BayFirst National Bank (the Bank). The Bank provides a range of traditional community banking services through its full-service banking centers located in St. Petersburg, Seminole, Pinellas Park, Clearwater, Sarasota, Tampa, Bradenton, and Belleair Bluffs, Florida. The Bank’s primary deposit products are demand deposits, negotiable order of withdrawal accounts, money market accounts, savings deposits, and time deposits. Its primary lending products are residential mortgage, commercial, and installment loans. It provides lending services nationwide to small business customers, and as such, a portion of the loans originated by the Bank are guaranteed by the small business administration (SBA). The Bank also offers customary community bank deposit products, including interest-bearing and noninterest-bearing checking accounts, certificates of deposit and individual retirement accounts.
BAFN - Bayfirst Financial Corp
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