In the Name of Allah the Most Gracious, the Most Merciful and Peace and Blessings be upon our Prophet.
Welcome to First Community Bank. Welcome to a bank born out of the passion to make a difference in the lives of people.
Our story is indeed about the triumph of a vision. A vision that culminated in the coming of Islamic banking to Kenya. However, this triumph represents, for us, the start of yet another new vision –that this new born star succeeds to become a world-class financial institution. But we are confident that this new vision will also come to pass as a reality – because we fully realize that the hardest part of our journey has just started!
Nevertheless, having succeeded in bringing Islamic banking to Kenya, we are not oblivious to the fact that our status as a pioneer institution confers on us enormous responsibilities to offer a leadership role in Sharia compliant banking practices. We are committed to standing out as the defacto benchmark institution in as far as Sharia compliant banking is concerned.
As I welcome you all to our bank, I would like to take this opportunity on behalf of the Kenyan Muslim community to thank the Central Bank of Kenya (CBK) for its willingness to work with us in bringing Sharia Compliant banking to this country. Not only was the CBK supportive in every aspect of our long journey towards Islamic banking in Kenya, but the CBK has indeed taken its place in history as being the first regulator in East and Central Africa to enable the licensing of Sharia compliant institutions. We salute the CBK for its pro-active role and, on our part; we promise them that our bank will be an efficient and a well needed addition to the banking fraternity of this country.
I would also like to salute the courage, unflinching dedication and support of our core investors and our Board led by a dynamic and able Chairman. Your trust in this institution should be rewarded by a future that we believe will be glorious. This optimism is predicated on our excellent entry time into the market given the overall improvement and positive trend of our country’s sociopolitical circumstances. This in turn is expected to have a positive impact on the country’s future overall economical performance.
We plan to have up to 17 branches in operation by the end of our second year of operation. All our branches will be located strategically in different towns within our country. Certainly, the benefits to our clients from this aggressive branch expansion program should be overwhelming value in terms of service delivery and overall networking perspectives.
In the process of setting up the bank, we managed to attract some of the best talents in the banking industry not only because of attractive welfare packages that we had put in place but also as a result of a motivating work environment that FCB was found to provide. As we close our first year of operation,I wish to take this opportunity on behalf of the Board of Directors and Shareholders, to express my profound gratitude to the Staff of the bank for their commitment and hard work .
As we embark on our second year of business, we would like to reassure our customers that our bank will not be merely another “me too bank”. We will not just be establishing accounts to boost numbers. We promise to add value to you and your business - and we will fulfill our promise because we are driven by ethics. Our rich pool of human capital and ICT provide sufficient ground for providing well structured, innovative, Sharia compliant products and flexible banking arrangements to meet all the banking needs of our clients.
Finally, in line with our mission statement, we promise to remain firm to our commitment to be a responsible corporate citizen by promoting development initiatives that take account of the real needs of our communities and are consistent with the government’s goal of creating sustainable value.
I am proud to be part of a dedicated team that is providing our clients with an alternative, ethical form of Banking. Come on board with us today and be part of a vision that must, Insha Allah, fulfill its call.
Nathif J. Adam,
Chief Executive Officer
Message from the Chairman
Assalamu Aleykum Warahmatullahi Wabarakatuh and peace be upon you all.
I am extremely honored to welcome you all to First Community Bank - the home of Sharia compliant banking!
The coming of Islamic Banking to Kenya is, no doubt, a watershed event and we are indeed, honoured to have pioneered that initiative which culminated in FCB becoming the first bank to be granted approval in Kenya to operate as a fully fledged Islamic Bank. The Bank received its formal approval from the Central Bank of Kenya on May 29th 2007 thereby opening the door for Sharia compliant banking not only in Kenya but indeed in the entire East and Central African region.
The impetus for the establishment of this bank in Kenya came from Kenyan professionals and investors who since several years earlier had envisioned the need to have a specialized alternative banking institution of this nature in the country.
Our shareholders, made up largely of Kenyan investors, all share the passion for bringing this type of banking to the Kenyan market – a commercial entity driven by the highest echelons of ethics in business to meet the financial needs of not only Muslims but equally appeal to a significant section of members of other religions who may be attracted to our kind of banking.
Our bank promises strict adherence to the principles of the Sharia in all its activities. All our products and services are offered on fully Sharia compliant basis as approved by our Sharia advisory Board which comprises of prominent Islamic scholars both from inside and outside Kenya. Our business philosophy can best be described by the bank’s vision, mission and shared value statements. However, it suffices to say that FCB is undoubtedly a customer-oriented bank, with strong relationships that are continuously nurtured and improved through well-trained, caring employees who practice sound and innovative banking principles.
As a bank owned by local East African businessmen, we shall remain committed to the economic welfare and development of our communities. Similarly, our staff and management team, all from Kenya, promise to build lasting relationships with our customers - relationships grounded on exemplary service, trust and a genuine commitment to helping people.
Once again, welcome to FCB – your banking partner driven by ethics.