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
United Community Banks, Inc. is a financial holding company for United Community Bank (the Bank). The Bank operates over 207 offices across Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. It provides a range of financial products and services to the commercial, retail, governmental, educational, energy, health care and real estate sectors. It offers deposit products, secured and unsecured loans, mortgage loans, payment and commerce solutions, trust services, investment advisory services, insurance services, and other related financial services. It offers a range of lending services, including real estate, consumer and commercial loans, to individuals, small businesses, mid-sized commercial businesses and non-profit organizations. Its full-service retail mortgage lending division, UCMS, is a seller/servicer for Fannie Mae and Freddie Mac and provides fixed and adjustable-rate home mortgages. It also offers private banking, trust and wealth management services.
UCBI - United Community Banks Inc
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