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
Town Center Bank (the Bank) is a provider of financial services. The Bank provides financial services through its offices in Frankfort and New Lenox, Illinois. The Bank’s primary deposit products are checking, savings and term certificate accounts, and its primary lending products are residential mortgage, commercial, commercial real estate, construction, land development and consumer loans. The Bank offers personal banking and business banking services. Its personal banking services include personal deposit products, automated teller machine (ATM) /debit rewards card, personal loans, personal credit card, and Xpress deposit. Its business banking services include business deposit products, business loans, remote deposit capture, business credit card, and remote deposit. The Bank’s service available through online and mobile banking, include check balances, view account activity, transfer funds, schedule automatic payments, recurring payments, custom reports, and others.
TCNB - Town Center Bank
Report
There was a problem reporting this post.
Block Member?
Please confirm you want to block this member.
You will no longer be able to:
See blocked member's posts
Mention this member in posts
Please allow a few minutes for this process to complete.