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
Indian Bank is engaged in the business of banking and financial services. The Company’s segments include Treasury, Corporate / Wholesale Banking, Retail Banking, and Other Banking Business. The Treasury Segment includes the entire investment portfolio and trading in foreign exchange contracts and derivative contracts. The Corporate / Wholesale Banking segment comprises the lending activities of the corporate accounts group, commercial client’s group, and stressed asset resolution group. These include providing loans and transaction services to corporate and institutional clients, as well as non-treasury operations of foreign offices. The Company’s Retail Banking Segment is subdivided into digital banking and other retail banking segments. This segment comprises retail branches, which primarily include personal banking activities, including lending activities to corporate customers having banking relations with these branches. This segment also includes agency business and ATMs.
INBA - Indian Bank
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