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
Isabella Bank Corporation is a financial service holding company. The Company’s wholly owned subsidiary, Isabella Bank (the Bank), has approximately 29 banking offices located throughout Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw counties. The Bank offers an array of banking and wealth management services to businesses, institutions, individuals and their families. The Bank’s lending activities include loans for commercial and agricultural operations and real estate purposes, residential real estate loans, and consumer loans. The Bank limit lending activities primarily to local markets and purchased loans from the secondary market are minimal. Deposit services offered by the Bank include checking accounts, savings accounts, certificates of deposit, direct deposits, cash management services, mobile and Internet banking, electronic bill pay services, and automated teller machines. The Bank also offers full-service investment management, trust and estate services.
ISBA - Isabella Bank Corp
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