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
CNB Community Bancorp, Inc. is a bank holding company for County National Bank (the Bank). The Bank is a nationally chartered full-service bank that offers banking products along with investment management and trust services to communities located throughout South Central Michigan. The Bank’s personal and business banking services include checking accounts, savings accounts, online and mobile banking, loans, mortgages, telephonic banking, health savings account, treasury management, retirement planning, and others. The Bank’s wealth management services include investment management, trust and estate settlement, private banking, financial planning, and others. The Bank operates about 13 full-service offices, a loan production office, a mortgage lending office, and 19 automated teller machines (ATMs) in four counties: Calhoun, Hillsdale, Jackson, and Lenawee.
CNBB - Cnb Community Bancorp Inc
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