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
BM Technologies, Inc. is a financial technology company. The Company facilitates deposits and banking services between a customer and its partner bank, Customers Bank. The Company provides high-tech digital banking and disbursement services to consumers and students nationwide through a full service fintech banking platform, accessible to customers anywhere and anytime through digital channels. Its banking platform provides access to checking and savings accounts, personal loans, and financial wellness. Its fintech business model leverages Banking-as-a-Service (BaaS) partners’ and University partners’ existing customer bases to achieve high volume, low-cost customer acquisition in its Higher Education Disbursement, BaaS, and niche Direct to Consumer (D2C) banking businesses.
BMTX - Bm Technologies Inc
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