| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 2007 |
| Headquarters | Nairobi, Kenya |
| Key people | Hassan Varvani, Chairman Nathif J. Adam, Managing Director |
| Products | Checking, Savings, Investments, Debit Cards |
| Total assets | US$65 million (December 2009) (Estimate) |
| Website | Homepage |
First Community Bank (FCB), is a commercial bank in Kenya. It is one of the forty-four (44) commercial banks licensed by the Central Bank of Kenya, the national banking regulator.[1]
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The bank was established according the Sharia law, in 2007 by Muslims in Kuwait, Kenya and Tanzania.[2] It received a Kenyan commercial banking license in 2007 and started operations in June 2008. It is the first Kenyan bank to operate according to the laws of Sharia.[3] As of December 2009[update], the bank was a small commercial bank, ranked number thirty-five (35) of forty-four (44) commercial banks by assets. As a result of that ranking, the bank's estimated total assets are about US$65 million.[4] Since its founding, another Sharia bank, Gulf African Bank, has received a commercial license from the Central Bank of Kenya.[5]
As of November 2010[update], First Community Bank is a privately held company whose owners are not publicly known.
The bank has one subsidiary, FCB Takful Insurance Agency, in which it maintains 100% shareholding. The insurance agency was established in 2010.[6]
The bank maintains a network of branches at the following locations: [7]
The bank is governed by a seven-person Board of Directors. Hassan Varvani, one of the non-Executive Directors is the Chairman of the Board. The Managing Director is Nathif J. Adam.[8]
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