FCB Capital – a subsidiary of Family Community Bank – of Kenya has been licensed as an investment bank. Capital Markets Authority (CMA) has allowed the bank to undertake Shari’ah compliant investment banking activities in the country and region. FCB Capital Chief Executive Mr Nathif Adam said the Bank is fully capitalised in line with CMA requirements and plans to make a thrust into untapped investment opportunities. He said through FCB Capital, the group aims to deliver a full choice of alternative investment opportunities, enabling Shari’ah-compliant investors to construct balanced portfolios. Adam said the bank’s products and services would cover a wide range of Shari’ah-compliant investment activities, including Islamic Bonds (Sukuk) and Shari’ah compliant stocks. It also plans to cover property Investment Funds including Real Estate Investment Trusts and mutual funds. Others are Public-Private Partnership projects through the issuance of Sukuk such as Municipality Sukuk, among others. These, Adam added, would be in addition to offering structured Product Funds, such as trade finance portfolios, Venture Capital and Private Equity, Pension Products, Corporate Advisory and Shari’ah Advisory. Adam believes there is a clear market need for a bank such as FCB Capital.
SHARI’AH-FRIENDLY BROKER GETS LICENCE FROM CMA
FCB Capital – a subsidiary of Family Community Bank – of Kenya has been licensed as an investment bank. Capital Markets Authority (CMA) has allowed the bank to undertake Shari’ah compliant investment banking activities in the country and region.
