First Community Bank
Encyclopedia
First Community Bank, 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.
s in Kuwait
, Kenya
and Tanzania
. 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. , 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. Since its founding, another Sharia bank, Gulf African Bank
, has received a commercial license from the Central Bank of Kenya
.
. Hassan Varvani, one of the non-Executive Directors is the Chairman of the Board
. The Managing Director is Nathif J. Adam.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
. It is one of the forty-four (44) commercial banks licensed by the Central Bank of Kenya
Central Bank of Kenya
The Central Bank of Kenya is Kenya's central bank. The bank is located in Nairobi. The current governor of the bank is Professor Njuguna Ndungu whose appointment took effect from March 4, 2007...
, the national banking regulator.
History
The bank was established according the Sharia law, in 2007 by MuslimMuslim
A Muslim, also spelled Moslem, is an adherent of Islam, a monotheistic, Abrahamic religion based on the Quran, which Muslims consider the verbatim word of God as revealed to prophet Muhammad. "Muslim" is the Arabic term for "submitter" .Muslims believe that God is one and incomparable...
s in Kuwait
Kuwait
The State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
and Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. 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. , 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. Since its founding, another Sharia bank, Gulf African Bank
Gulf African Bank
Gulf African Bank , whose full name is Gulf African Bank Limited, is a commercial bank in Kenya. It is one of the forty-four banks licensed by the Central Bank of Kenya, the national banking regulator.-History:...
, has received a commercial license from the Central Bank of Kenya
Central Bank of Kenya
The Central Bank of Kenya is Kenya's central bank. The bank is located in Nairobi. The current governor of the bank is Professor Njuguna Ndungu whose appointment took effect from March 4, 2007...
.
Ownership
, First Community Bank is a privately held company whose owners are not publicly known.Subsidiaries
The bank has one subsidiary, FCB Takful Insurance Agency, in which it maintains 100% shareholding. The insurance agency was established in 2010.Branch network
The bank maintains a network of branches at the following locations:- Wabera Street Branch - Prudential Assurance Building, Wabera Street, NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
- First Avenue Branch - United Textile Building, 1st Avenue, EastleighEastleighEastleigh is a railway town in Hampshire, England, and the main town in the Eastleigh borough which is part of Southampton Urban Area. The town lies between Southampton and Winchester, and is part of the South Hampshire conurbation...
, NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is... - Waruinge Street Branch - General Waruinge Street, EastleighEastleighEastleigh is a railway town in Hampshire, England, and the main town in the Eastleigh borough which is part of Southampton Urban Area. The town lies between Southampton and Winchester, and is part of the South Hampshire conurbation...
, NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is... - Kimathi Street Branch - Jamia Mosque, NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
- Westlands Branch - Mpaka Plaza, Mpaka Road, WestlandsWestlandsWestlands is a neighborhood in the city of Nairobi, the capital and largest city in Kenya.-Location:Westlands is located , by road, northwest of the central business district of Nairobi...
, NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is... - South C Branch - South C Shopping Center, NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
- Garissa Branch - Bajweed Building, Wajir Road, GarissaGarissaGarissa is a city in the North Eastern Province of Kenya. It is the capital of both the province and Garissa District.-Overview:Garissa is located at and has a population of 65,881 inhabitants . The Tana River flows through the city....
- Habaswein Branch - DC Road, HabasweinHabasweinHabaswein is a settlement in Kenya's North Eastern Province, which is almost exclusively inhabited by ethnic Somalis. The name Habeswein literally means 'big snake', local tale has that before the town was established a snake was killed....
- Industrial Area Branch - Enterprise Road, Industrial Area, NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
- Kisumu Branch - CAC House, Oginga Odinga Street, KisumuKisumuKisumu is a port city in western Kenya at , with a population of 355,024 . It is the third largest city in Kenya, the principal city of western Kenya, the immediate former capital of Nyanza Province and the headquarters of Kisumu County. It has a municipal charter but no city charter...
- Nakuru Branch - Merica Hotel Building, Kenyatta Avenue, NakuruNakuruNakuru, the provincial capital of Kenya's Rift Valley province, with roughly 300,000 inhabitants, and currently the fourth largest urban centre in the country, lies about 1850 m above sea level...
- Malindi Branch - Malindi Shopping Complex, Lamu Road, MalindiMalindiMalindi is a town on Malindi Bay at the mouth of the Galana River, lying on the Indian Ocean coast of Kenya. It is 120 kilometres northeast of Mombasa. The population of Malindi is 117,735 . It is the capital of the Malindi District.Tourism is the major industry in Malindi. The city is...
- Mandera Branch - ManderaManderaMandera is a town in North Eastern Province, Kenya. It is capital of the Mandera District. The town is located at around , near the borders with Ethiopia and Somalia. It has a population of 30,433 ....
- (under construction) - Masalani Branch - MasalaniMasalaniMasalani is a settlement in Kenya's North-Eastern Province. It is the headquarters of Ijara District. It is located on the Eastern shores of Tana River, 30 kilometres south of Hola and 60 kilometres north of Garsen...
- Mombasa Branch Number One - Shah Mansion Building, Digo Road, MombasaMombasaMombasa is the second-largest city in Kenya. Lying next to the Indian Ocean, it has a major port and an international airport. The city also serves as the centre of the coastal tourism industry....
- Mombasa Branch Number Two - Kazingo Road, MombasaMombasaMombasa is the second-largest city in Kenya. Lying next to the Indian Ocean, it has a major port and an international airport. The city also serves as the centre of the coastal tourism industry....
- Moyale Branch - Sharriff Guest House, MoyaleMoyaleMoyale is a market town on the border of Ethiopia and Kenya, which is split between the two countries: the larger portion is in Ethiopia , and the smaller is in Kenya . There are four disputed locations within the Moyale district between the Somali and Oromo regions...
- Wajir Branch - Mandera Road, WajirWajirWajir is a town in the North Eastern Province of Kenya. It is the capital of Wajir County.-History:A cluster of cairns near Wajir are generally ascribed by the local inhabitants to the Madanle, a semi-legendary people of high stature, who are associated with the Somali Ajuuraan. A. T...
Governance
The bank is governed by a seven-person Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
. Hassan Varvani, one of the non-Executive Directors is the Chairman of the Board
Chairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
. The Managing Director is Nathif J. Adam.
External links
See also
- List of banks in Kenya
- Central Bank of KenyaCentral Bank of KenyaThe Central Bank of Kenya is Kenya's central bank. The bank is located in Nairobi. The current governor of the bank is Professor Njuguna Ndungu whose appointment took effect from March 4, 2007...
- Economy of KenyaEconomy of KenyaKenya's economy is market-based, with a few state-owned infrastructure enterprises, and maintains a liberalized external trade system. The country is generally perceived as Eastern and central Africa's hub for Financial, Communication and Transportation services...
- Sharia banking
- Gulf African BankGulf African BankGulf African Bank , whose full name is Gulf African Bank Limited, is a commercial bank in Kenya. It is one of the forty-four banks licensed by the Central Bank of Kenya, the national banking regulator.-History:...