First Community Bank admits to limiting transactions due to mass panic withdraws
First Community Bank, has admitted to limiting transactions due to high panic withdrawals from customers due to ‘malicious rumors.
“We acknowledge that our customers may currently be experiencing challenges in some of their transactions occasioned by panic withdrawals informed by malicious rumors,” said CEO, Dr. Hussein Hassan.
Earlier today, chaos erupted at Wabera Branch after it emerged that no cheques were being cleared, and customers were only allowed to withdraw a maximum of KSh. 10,000 only per day.
The bank now says the sudden mass withdrawal has necessitated the limiting of some services under the guidance of the regulator.
“The bank has secured approval from the market regulator, Central Bank of Kenya, to limit some services to maintain stability in the short & long-term.”
In its efforts to reassure the public, First Community Bank says, it understands that these restrictive measures have not been favorable to our customers but are necessary to maintain stability in the short and long term.
First Community Bank is an Islamic bank offering banking services on a fully-fledged Sharia’h basis.
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