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
F & M Bank Corp. is a one-bank holding company. The Company operates through its banking subsidiaries, Farmers & Merchants Bank (the Bank) and VSTitle, LLC (VST). The Bank is a state-chartered bank, which offers a range of banking services, including commercial and individual demand and time deposit accounts, commercial and individual loans, Internet and mobile banking, drive-in banking services, automated teller machines (ATMs), as well as courier service for its commercial banking customers. The Bank makes various types of commercial and consumer loans and has a portfolio of residential mortgages and indirect auto loans. VST provides title insurance services to customers in its market area, including F&M Mortgage and the Bank. The Bank operates 13 full-service branches and a dealer finance division in the counties of Rockingham, Shenandoah, and Augusta, and the cities of Harrisonburg, Staunton, Waynesboro and Winchester in Virginia.
FMBM - F & M Bank Corp
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