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First Community Bank (FCB), is a
commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...
in Kenya, the largest economy in the
East African Community The East African Community (EAC) is an intergovernmental organisation composed of seven countries in the Great Lakes region of East Africa: the Democratic Republic of the Congo, the United Republic of Tanzania, the Republics of Kenya, Burundi, ...
. It is licensed by the
Central Bank of Kenya The Central Bank of Kenya (CBK) ( sw, Banki Kuu ya Kenya) is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Patrick Ngugi Njoroge ...
, the
central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...
and national banking regulator.


Overview

, the bank's total assets were valued at about US$187.62 million (KES:18.762 billion), with shareholders' equity of about US$14 million (KES:1.46 billion), and customer deposits of US$161 million (KES:16.126 billion). At that time, the bank was ranked number 21, by assets, out of 43 licensed banks in Kenya then.


History

First Community Bank was established in 2007 according to
Sharia law Sharia (; ar, شريعة, sharīʿa ) is a body of religious law that forms a part of the Islamic tradition. It is derived from the Five Pillars of Islam, religious precepts of Islam and is based on the Islamic holy books, sacred scriptures o ...
by private
Muslim Muslims ( ar, المسلمون, , ) are people who adhere to Islam, a monotheistic religion belonging to the Abrahamic tradition. They consider the Quran, the foundational religious text of Islam, to be the verbatim word of the God of Abrah ...
investors in
Kuwait Kuwait (; ar, الكويت ', or ), officially the State of Kuwait ( ar, دولة الكويت '), is a country in Western Asia. It is situated in the northern edge of Eastern Arabia at the tip of the Persian Gulf, bordering Iraq to the nort ...
,
Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...
and
Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and ...
. The bank received a Kenyan commercial banking license the same year, and started operations in June 2008. The FCB is the first Kenya-based bank to operate according to the laws of Sharia. Since the founding of First Community Bank, another Sharia bank, the
Gulf African Bank Gulf African Bank (GAB), whose full name is Gulf African Bank Limited, is a commercial bank in Kenya operating under an Islamic banking regime. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator. the b ...
, has also received a commercial license from the
Central Bank of Kenya The Central Bank of Kenya (CBK) ( sw, Banki Kuu ya Kenya) is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Patrick Ngugi Njoroge ...
.


Subsidiaries

The bank's first subsidiary is FCB Takful Insurance Agency, in which it maintains 100% shareholding. The insurance agency was established in 2010. The bank also owns a second subsidiary, FCB Capital Limited, the first Sharia-compliant Investment Bank in Kenya. It also is wholly owned by First Community Bank.


Branch network

, the bank maintains a network of branches at the following locations: # Wabera Street Branch - Prudential Assurance Building, Wabera Street,
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# Eastleigh Branch I - United Textile Building, First Avenue,
Eastleigh Eastleigh is a town in Hampshire, England, between Southampton and Winchester. It is the largest town and the administrative seat of the Borough of Eastleigh, with a population of 24,011 at the 2011 census. The town lies on the River Itchen, o ...
,
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# Eastleigh Branch II - General Warungu Street,
Eastleigh Eastleigh is a town in Hampshire, England, between Southampton and Winchester. It is the largest town and the administrative seat of the Borough of Eastleigh, with a population of 24,011 at the 2011 census. The town lies on the River Itchen, o ...
,
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# Industrial Area Branch - Enterprise Road,
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# Kimathi Street Branch - Jamia Mosque,
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# Westlands Branch - Mpaka Plaza, Mpaka Road,
Westlands Westlands is an affluent, mixed-use commercial and residential neighbourhood in Nairobi. Location Westlands is located approximately , by road, northwest of the central business district of Nairobi. The geographical coordinates of the neighb ...
,
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# South C Branch - South C Shopping Center,
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# Garissa Branch - Bajweed Building, Wajir Road,
Garissa Garissa ( so, Gaarrisa) is the capital of Garissa County, Kenya. It is situated in the former North Eastern Province. Geography The Tana River, which rises in Mount Kenya east of Nyeri, flows through the Garissa. The Bour-Algi Giraffe Sanctuar ...
# Lunga Lunga Branch - Lunga Lunga Road, Industrial Area,
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# Kisumu Branch - CAC House, Oginga Odinga Street,
Kisumu Kisumu ( ) is the List of cities and towns in Kenya by population, third-largest city in Kenya after the capital, Nairobi, and the coastal city of Mombasa (census 2019). It is the third-largest city after Kampala and Mwanza in the Lake Victor ...
# Nakuru Branch - Merica Hotel Building, Kenyatta Avenue,
Nakuru Nakuru is a city in the Great Rift Valley, Kenya, Rift Valley region of Kenya. It is the capital of Nakuru County, and was formerly the capital of Rift Valley Province. As of 2019, Nakuru had an urban and rural population of 570,674 inhabitant ...
# Malindi Branch - Malindi Shopping Complex, Lamu Road,
Malindi Malindi is a town on Malindi Bay at the mouth of the Sabaki River, lying on the Indian Ocean coast of Kenya. It is 120 kilometres northeast of Mombasa. The population of Malindi was 119,859 as of the 2019 census. It is the largest urban centre ...
# Mombasa Branch I - Shah Mansion Building, Digo Road,
Mombasa Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...
# Mombasa Branch II - Imara Building, Digo Road,
Mombasa Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...
# Moyale Branch - Shariff Guest House,
Moyale Moyale is a market town on the border between Ethiopia and Kenya, and is the administrative centre for two Ethiopian Districts of Ethiopia, woredas, Moyale, Oromia (woreda), Moyale of Oromia, Oromia Region and Moyale, Somali (woreda), Moyale of ...
# Wajir Branch - Mandera Road,
Wajir Wajir ( so, Wajeer) is the capital of the Wajir County of Kenya. It is situated in the former North Eastern Province. History A cluster of cairns near Wajir are generally ascribed by the local inhabitants to the Maadiinle, a semi-legendary peo ...
# Mihrab Branch- FCB Mihrab Building, Lenana Road
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...
# Isiolo Branch- White House Building, Moyale-Isiolo Road
Isiolo Isiolo is a town in Isiolo County, of which it is the capital. It is located in the upper eastern region of Kenya and geographically considered the centre of the country Kenya. It lies 285 kilometres north of the capital Nairobi. The town grew ar ...
# Bondeni Branch- Bat-Haf Plaza, Abdel Nasser Road
Mombasa Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...
# AMAL Branch- Amal Plaza, Eastleigh First Avenue
Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...


Governance

The bank is governed by
Board of Directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...
. Sheikh Mohamed Mbaye, one of the non-Executive Directors, is the
Chairman of the Board The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
. The Chief Executive Officer is Dr. Hussein Assad Ahmed Hassan.


See also

* CBK * Kenya Banks * Kenya Economy *
Sharia Banking Islamic banking, Islamic finance ( ar, مصرفية إسلامية), or Sharia-compliant finance is banking or Finance, financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic ...
*
Gulf African Bank Gulf African Bank (GAB), whose full name is Gulf African Bank Limited, is a commercial bank in Kenya operating under an Islamic banking regime. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator. the b ...


References


External links


Website of First Community BankWebsite of Central Bank of Kenya
{{Nairobi Banks of Kenya 2007 establishments in Kenya Banks established in 2007 Companies based in Nairobi