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Shariah-compliant First Community Bank customers are unable to withdraw their monies as the bank limits heavy drawings occasioned by panicking customers.
A spot-check by Capital Business in the Bank’s branches along Wabera and Kimathi Streets in Nairobi revealed that the bank was turning away some clients who were withdrawing more than Sh10,000.
One of the customers who spoke on anonymity said that he was only allowed to withdraw Sh5,000, which he said was so little to even fuel his car.
In a statement, the bank acknowledged the challenge while saying that the problem is being felt in some of its branches.
“We acknowledge that our customers may currently be experiencing challenges in some of their transactions occasioned by panic withdrawals informed by malicious rumors.”
“These unprecedented withdraws have caused a strain on our daily operations, necessitating the Bank under the guidance of the regulator to limit some services,” the Bank said in a statement.
Withdrawal restrictions, it says, are meant to maintain stability in the short and long term.
“We are working very closely with the Central Bank of Kenya to ensure that we continue to achieve our core mandate, which is, to bring good and reliable Shari’ah-compliant banking services to Kenyans.”
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