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
Virginia National Bankshares Corporation is a bank holding company for Virginia National Bank (the Bank). The Bank is engaged in the commercial and retail banking business. It operates through four segments: Bank, VNB Trust and Estate Services, Sturman Wealth, and Masonry Capital. The Bank segment involves making loans and generating deposits from individuals, businesses and charitable organizations. Sturman Wealth Advisors segment offers wealth management and investment advisory services. VNB Trust and Estate Services segment offers corporate trustee services, trust and estate administration, individual retirement account (IRA) administration and custody services. Masonry Capital segment offers investment management services for separately managed accounts and a private investment fund. The Bank offers a full range of banking and related financial services, including checking accounts, money market deposit accounts, certificates of deposit, and other depository services.
VABK - Virginia National Bankshares Corp
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