With a large number of account types and a variety of financing products,you are sure to avail the right personal banking product from FCB.

PERSONAL BANKING ACCOUNTS
We offer a wide range of banking accounts for our retail clients including the following:

Current accounts

 

• InvestPlus Fixed Maturity Account

 

Requirements to open a Personal Account

• Copy of national ID / Passport
• Copy of PIN certificate
• 2 recent passport photographs
• Reference letter from employer or existing FCB customer or evidence of physical address e.g. utility bill such as electricity or water bill
• Completed Account Opening Form and Signature Card
  

• For non-residents who live outside Kenya and wish to open an account please visit Diaspora link

PERSONAL FINANCE PRODUCTS
We offer a wide range of products to meet the financing needs of our retail clients. These include;

1. Finance for Procurement of household goods
Whether it is furniture, a fridge or other household goods or a piece of laptop for personal use or payment of fees and tuition monies, we offer support to our clients for all their Personal Finance requirements.

 
2. Conventional Loan take–overs
This product is designed for those clients who had initially taken loans from other conventional banks that charge interest. In the event, such a client prefers to shift the same to Shariah compliant transaction, then, In this case, the client presents us with the outstanding amount of the loan from the other bank or  institution and we will structure a trade deal between the client and ourselves through which the client will be able to pay off the outstanding loan facility.

3. Motor Vehicle Finance
Under this transaction, the client identifies the required vehicle and, subject to necessary due diligence,  FCB purchases the vehicle from the supplier/ seller and will sell  the same to client on deferred (murabaha) basis on terms agreed between the client and the bank.

 

First community has been selected as one of the four banks in the country to work with the Youth Enterprise Development Fund in relation to the management of the Fund’s financing portfolio. In a high profile ceremony held at State House Nairobi on 10th December 2008, President Mwai Kibaki launched the Fund’s new strategic plan and the leverage agreements with the four partnership banks i.e First Community Bank, Kenya Commercial Bank, Equity Bank and Family Bank.

The Youth Enterprise Development Fund is a development initiative formed by the Government in 2007 to address the economic empowerment of the youth through enterprise development and strategic partnerships. The key mandate of the Fund is to support youth oriented micro, small and medium enterprises with start-up and growth oriented capital.

FCB’s participation in the Fund aims largely at ensuring that the financing support available from the Fund reaches Muslim youth in the country in a Sharia compliant manner. “We are a bank conscious of the development of our youth and we discovered that since the formation of the Fund about 2 years ago, not many Muslim youth benefited from the same because of its interest based nature. However, through our ‘Youth Advantage’ program, Muslim youth in the country can now benefit from the Fund” revealed FCB’s CEO Mr. Nathif Adam. Accordingly, the CEO urged Muslim youth in the country to come forward with practical business ideas to take advantage of the Fund. 

 

FCB is duty bound as per its business mandate and philosophy to impact positively on the lives of the society at large. To this end, our efforts in nation building, are always purposeful and closely aligned with government goals particularly relating to poverty eradication.

It is for this reason that we launched a special microfinance product earlier in 2009 under the brand name of BORESHA. The name Boresha which is derived from the Swahili word of BORA means “TO MAKE BETTER”.
Thus, through Boresha we hope to add much value to the economical and social conditions of the low/limited income households, particularly, the micro and small scale entrepreneurs. This includes men and women of the market place whether as artisans, food vendors, traders, Mobile sellers, GSM-Recharge card vendors, garment traders, kiosk owners, low salaried civil servants, teachers, small scale professionals, business starters, small scale enterprises and salaried employees.

The product has so far been received exceptionally well by the market and the level of financing requests and disbursements continue to grow with most requests particularly coming from women groups in places such as Garissa, Malindi and Mombasa.

In order to make our microfinance program truly effective and value adding, we have packaged a comprehensive product which comprises of the following components:

•  Credit

Our Micro-finance program provides two types of financing products for its beneficiaries:

a. Micro-finance, exclusively designed for women for small scale income generating activities

b. Micro-enterprise finance, designed for small entrepreneurs, who need capital to expand their existing businesses.

•  Savings
  

•  Non-financial Services
  

The non-financial services of our program consist of a training component that aims to transfer necessary skills, knowledge and awareness to the beneficiaries of the program. This has the ultimate objective of assisting the beneficiaries to confront and eventually overcome constraints that cannot be addressed solely by the financing aspect of the program. The holistic approach of this program requires that not only should credit be offered but other faculties of the beneficiaries must be developed as well. The training program aims to expose the beneficiaries to different ideas and covers various aspects including the following:

• Enhance the human and operational skills of the program participants and the staff.
• Enable the borrowers to make the best utilization of the funding provided to them.
• Promote greater awareness to the beneficiaries about the economic, social and other aspects surrounding them.