First Community Bank (FCB) has disclosed a shortfall of more than Sh1 billion in core capital, revealing the extent of the crisis that pushed its owners to sell a majority stake to a Mogadishu-based lender in a rescue deal. The small lender’s latest books of account show that the core capital dropped from Sh1.65 billion […]
First Community Bank (FCB) one of the leading Islamic banks in Kenya has been battling the horror of banking, panic withdrawals from customers following malicious rumors from what we gather allegedly emanated from former employees. The rumors were further accelerated by the news from US that the feds were going after Sh30B stolen from the […]
First Community Bank(FCB) has been put on spot by one of its client for breach of contract and charging interest against Islamic Financing Agreement,(Musharaka). In regard to this, a Nairobi court has suspended its decision to sell the remaining 15 disputed apartments developed by Isaac’s Investment Company. High court Judge Ngenye Macharia has referred the […]
