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
The Karnataka Bank Limited is an India-based banking company, which is engaged in providing a range of banking and financial services, including retail, corporate banking, and para-banking activities in addition to treasury and foreign exchange business. It operates through four segments: Treasury, Corporate Banking, Retail Banking and Other Banking Operations. Its products and services include Personal, Business, Agriculture, NRI Priority Banking, Digital Banking, Payments. It offers personal banking services that include savings accounts, cards, loans, insurance, investment other services and other products. Its loan portfolio includes housing loan, vehicle loans, personal loan, loan against property, education loan, gold loan and other loans. It offers business banking services, such as working capital finance, term loans and business finance products. In addition, it offers Life Insurance, General Insurance, Mutual Funds, Demat Account, Trading Account, Co-branded Credit Cards.
KBNK - Karnataka Bank Ltd
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