Bank Information and Reviews

[Update: 05.8.2021]

As a Shariah-compliant banking system Islamic beginning of  2008 June, First Community Bank is the first fully-fledged Sharia-compliant bank in Kenya and is approved by the CBK.

They offer services that comply with the Sharia, and this simply means they serve all our customers more ethically than other banks.

What we Know about First Community Bank

First Community Bank began its operations in Kenya in 2007 and is the first fully-fledged Sharia-compliant bank in Kenya approved by the CBK. As the first Shariah-compliant banking( Islamic) since the beginning of June 2008, they strive to be an ethically driven bank.

Islamic banking is an interest-free, asset-based financing system and not currency based. Simply put, Shari’ah-compliant means/refers to the divine guidance and laws according to the Quran and guiding principle of the Hadith and the prophet Muhamad ~pbuh~.

What Loans does First Community Bank offer & what are they best known for?

The types of loans offered by First community bank in regard to personal financing are as follows,

  • Mortgage financing.
  • Plot/Land Financing.
  • Construction financing.
  • Home improvement financing.
  • Medical expenses and School tuition.
  • Motor Vehicle Financing.

Here, however, we will put our focus on personal financing as the closest one that resembles unsecured financing. (Categorised on the website as home improvement, medical expenses and tuition.)

As all FCB loans are given under specific Sharia Contracts, for personal loans, these contracts look like this.

Murabaha –  is a contract where the seller expressly mentions the cost of the sold commodity he has incurred and sells it to another person by adding a profit margin. It requires a real sale of commodity and not merely an advancing facility. The Application is used in various financings such as personal financing, trade financing and asset financing.  

Tawaruq – A means of obtaining liquidity through purchasing a commodity on a deferred basis from the bank and reselling to another person for a lower price, in cash other than the initial seller. Also applicable for personal financing.

*Repayment period and terms may vary depending on the Shariah contract.*

The exact cost of a loan with First Community Bank & a representative example?

As per the FCB loan calculator, this is the estimate on personal financing at the cost of  Ksh. 1 million.

Ksh.1000,000 at 13% for a  repayment period of 24 months, the total amount paid on the loan totals Ksh.1141003.74. Total payment on monthly instalments equals Ksh. 47541.82

Concurrently the same amount at the same period for a 10% interest = 1,107,478.23  making it the total payment on the financing.  Hence, the monthly instalments should cost around Ksh.46,144.93.

*Calculation is indicative here as extra facilitation costs are not considered. Kindly contact FCB to get a direct quote on the desired financing.*

Can you download the First Community Banking App?

Yes. The FCB app is on Google play store and Apple stores under FCB Popote.

To enjoy Mobile Banking with FCB, Dial USSD *342#. Simply transact and access your account with their intuitive and interactive app.

In regard to making payments, use the FCB Paybill Number, 919700. Notably, this service is available to all M-Pesa users.

How can you get a Personal Loan from First Community Bank?

Eligibility for a personal finance loan with FCB requires the following documents.

  • Employment Letter clearly stipulating the terms of engagement.
  • Three most recent months’ payslips.
  • Six months’ certified bank statements.
  • Irrevocable salary assignment instructions.
  • Facility application form.
  • Sale agreements invoice, if applicable.
  • Purchase invoice registers and copy of sale registers available for review.
  • Copy of ID and KRA PIN Certificate.

Once all the necessary requirements are met, your application gets processed allowing your financing to be sorted.

How does First Community Bank Determine your Eligibility and Cost of Credit?

It is important to remember that First Community bank is shariah compliant. That, in itself, has its own eligibility criteria. Therefore credit is given for production services rather than consumption. 

First community bank offers its services to both Islamic and non-Islamic individuals for both personal and corporate clients. This will not affect your eligibility.

As a standard procedure, your cost of credit will have to go through CRB checks and meet the 5C criteria to assess your paying power.

  • Applicant’s credit history – Character.
  • Applicant’s debt-to-income ratio – Capacity.
  • The amount of money an applicant has – Capital.
  • An asset that can back or act as security for the loan – Collateral. 
  • The purpose of the loan, the amount involved, and prevailing interest rates.- Conditions.

Amounts, Terms and Interest Rates from First Community Bank

First of all, interest in Islamic Banks, FCB not excluded, is based on the period and amount plus the type of Sharia contract. ( Murabaha, Tawaruq, or diminishing Musharakah.) + consideration of CBK interest margin of 13%.

Secondly, borrowing amounts of between Ksh.50,000 – 5 million are awarded as financing.

Thirdly, if awarded financing, FCB allows its customers to choose repayment periods of between 12 – 60 months. Got floating cash? paying before the due date is fine but you need to call FCB to consult if they have discounts.

Disbursements and Repayments at First Community Bank

As a standard procedure with all banks, you need to have an account with the said bank of interest to access their financing services. If you don’t have one, one will be created for you. First Community Bank is no different as it abides on the same principle as well.

Products taken under FCB personal financing are received within 5 working days from the buyer or supplier. This is because they act as a middleman between you and what you need. FCB just facilitates the payment and the borrower pays back the amount in instalments.

What Unique Features does First Community Bank have to offer?

We could not find any unique features or promos offered by First Community Bank.

How to Contact First Community Bank

For the most part, all information considered, contact First Community Bank by calling them directly on any of these 3 lines.

020843000 or,0725843000( Whatsapp.) or 0789843000.

Preferably send an email to [email protected] if you are making enquiries about their personal financing services.

On the other hand,  social media is always there for you to correspond with FCB. Just  click the below links to be redirected to their handles.





As a general rule, we advise readers to always visit the First Community Bank website or click here to redirect to their financing products.

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