Purification of stocks is a process aimed at cleansing the profits earned from investing in companies whose activities or transactions may include some prohibited or mixed elements. This is done by disposing of the unlawful portion of these profits.
Types of Stocks in Terms of the Need for Purification:
- Prohibited Stocks: These are stocks of companies whose primary activity is prohibited, such as conventional banks or alcohol companies. Investing in these stocks is not permissible, and purification does not rectify them.
- Pure Stocks: These are stocks of companies whose activities are permissible and do not deal with interest (riba). These stocks do not require purification.
- Mixed Stocks: These are stocks of companies whose primary activity is permissible, but they may engage in some prohibited transactions, such as interest-based borrowing or lending. Profits earned from these stocks require purification.
How to Calculate the Purification Amount
The purification amount is calculated by determining the percentage of prohibited income in the company. This information can be obtained from the company’s financial reports or from reliable sources that provide this data.
Illustrative Example:
If the percentage of prohibited income in a company is 5%, and you have made a profit of 1000 Riyals from investing in the shares of this company, then the purification amount is:
Purification Amount = Profit Earned × Percentage of Prohibited Income
Purification Amount = 1000 Riyals × 0.05 = 50 Riyals
This amount (50 Riyals) must be disposed of by spending it on various charitable causes, such as donating to the poor and needy or charitable projects.
How Does Bonyan Help Purify Your Wealth?
Directing Funds to the Most Needy:
- Orphan Sponsorship: Providing financial and educational support to children in need.
- Building Development Projects: Such as digging wells, establishing health centers, and building schools.
- Humanitarian Aid: Providing food and medicine to families affected by wars and disasters.
Transparency and Documentation:
We provide regular reports on how funds are distributed and the beneficiaries.
Commitment to Islamic Law:
All our procedures follow Islamic rulings (fatwas) to ensure the complete purification of your wealth.
Our Focus on Those Most in Need
At Bonyan, we work to support the most vulnerable groups, including those affected by natural disasters, refugees, and victims of wars in the Middle East and Africa.
Be Part of the Change
Your donation with Bonyan is not just a means to purify your wealth, but a step towards building a better society and a brighter future for those in need.