Islamic Finance Training Centre (IFTC) is a fully owned project of First Community Bank. It has been created as a dedicated training center to nurture and build skills and competencies of the bank’s staff at various levels to meet current needs and to create a wealth of knowledge that is required for the future requirement of the bank.

The centre aims to develop accomplished professionals in the field of Islamic banking and finance to enable them serve the organization well and to contribute to the overall economic well-being of the nation.

The centre also eventually aims to make an overall advancement to the cause of Islamic Banking and Finance by imparting appropriate knowledge and providing consultancy works for all those who may be interested in such services whether from inside or outside the country .This may include vocational training services to the unemployed and to employees of other public and private entities.

Similarly the centre plans to create appropriate relationships and alliances with other leading international training institutions in the field of Islamic Banking and finance with the objective of providing in Kenya recognized courses leading to certificates and diplomas issued by these institutions.

The centre has already enlisted a number of committed trainers comprising largely of seasoned bankers who will be entrusted to impart knowledge as appropriate through expertise,career experiences and a thorough understanding of commercial and corporate complexities.

The centre has been approved by the Kenyan Ministry of Higher Education, Sciences and Technology as a medium of education and learning.

Facilities

The centre comprises of a multi-purpose training hall which can accommodate up to about 70 trainees at a time. The hall also has the capacity of being separated into two distinct rooms through a collapsible partitioning.

The hall also houses a computer lab which is equipped with appropriate software and hardware facilities to offer the trainees  practical hands-on training on the Bank’s  Core Banking System(CBS).

The centre also has a mini-library with a good selection of books, magazine and reference works on Islamic banking and finance

Read more about the Training Centre from the press below:

Local bank to train staff in Islamic finance
Published on 19/10/2009
By Ally Jamah-The Standard

A local Islamic bank has unveiled plans to offer Diplomas and Certificates in Islamic banking and finance to meet the needs of a fast growing niche market.

First Community Bank’s (FCB) Chief Executive Officer Nathif J Adam said the bank is linking up with international universities in the Middle East and Asia to bridge a skills gap in that field.

"Islamic banking and finance is expanding rapidly and we need to train people who will serve in positions being created in this market," he said

Mr Adam was speaking while launching the Islamic Finance Training centre at the bank’s South C branch in Nairobi. The centre will train the bank’s staff as well as offer consultancies on Islamic banking and finance for local and international organisations.

Some of the key staff are yet to fully grasp the principles of Islamic banking and finance, leading to costly blunders.This is the first time in Kenya    that Islamic banking and finance will be studied as a professional subject.

More opportunities

Some Kenyan Universities are also considering offering similar courses as the credibiiity of islamic finance is rising rapidly.Currently, Kenya has two islamic banks — FCB and Gulf African Bank — the only ones in East and Central Africa.

Opportunities in Islamic finance are expected to increase as FCB unveils its investment and insurance products before the end of the year. The bank will open six new branches, mostly in North Eastern Province by the end of the year, bringing the total to 17.