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
Laurentian Bank of Canada (the Bank) provides financial services to its personal, commercial and institutional customers. The Bank operates primarily across Canada, with a presence in the United States. The Bank operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment caters to the financial needs of retail clients. Clients can access the Bank’s offering of financial advice, products and services through a network of branches in Quebec. The Commercial Banking segment caters to the financial needs of business clients across Canada and in the United States and provides commercial banking, real estate financing, and equipment and inventory financing. The Capital Markets segment provides a range of services, including research, market analysis and advisory services, corporate underwriting for debt and equity, and administrative services.
LB - Laurentian Bank of Canada
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