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
Carter Bankshares, Inc. is a bank holding company. The Company is the parent company of its wholly owned subsidiary, Carter Bank & Trust (the Bank). The Bank is an insured, Virginia state-chartered bank, which operates branches in Virginia and North Carolina. The Company provides a full range of financial services with retail, and commercial banking products and insurance. The Company’s segments include Commercial Real Estate (CRE), Commercial and Industrial (C&I), Residential Mortgages and Construction. The Company offers digital banking options through its website. Its customers can utilize online and mobile banking tools and its customer contact center for personal and automated telephone banking services. Its Retail branches offers lobby appointments, drive-up and virtual servicing. The Company has approximately 67 branches in Virginia and North Carolina.
CARE - Carter Bankshares Inc
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