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
Sterling Bancorp, Inc. is a unitary thrift holding company. The Company operates through Sterling Bank and Trust, F.S.B. (the Bank). The Bank originates residential and commercial real estate loans, construction loans, commercial lines of credit and other consumer loans. It also engages in mortgage banking activities and, as such acquires, sells and services residential mortgage loans. The Bank operates through a network of 28 branches of which 26 branches are located in San Francisco and Los Angeles, California with the remaining branches located in New York, New York and Southfield, Michigan. It offers traditional depository products, including checking, savings, money market, individual retirement accounts and certificates of deposits, to individuals and businesses throughout its market areas. Its investment portfolio consists of United States treasuries and agency notes, mortgage-backed securities, collateralized mortgage and debt obligations, and equity securities.
SBT - Sterling Bancorp Inc
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