Family Bank has opened a new branch in Isiolo County as it seeks to strengthen its hold in the northern Kenya region.
Situated in Isiolo town’s central business district, the branch targets micro, small and medium enterprises, pastoralists and county government employees among other groups and individuals.
Speaking Thursday during the opening of the branch, Isiolo County Secretary Ahmed Galgalo asked the bank to consider residents during recruitment and come up with Sharia compliant products favourable to Muslim locals.
"Our people and the business community should take advantage of the medium and small enterprise loans at the bank to grow their businesses and empower themselves," said Dr Galgalo.
He expressed the county government's commitment to providing an enabling environment for development partners.
Provide quality services
Family Bank CEO Rebecca Mbithi said the financial institution is keen on providing quality services and financial solutions to Isiolo residents.
In response to Dr Galgalo’s request, Ms Mbithi said the bank will come up with community tailored products that are Sharia compliant so that Muslims, who are a majority, also benefit.
"We are focused on bolstering the growth of MSMEs and are committed to offering quality services that suit your needs and are Sharia compliant," Ms Mbithi said.
“The bank, through our recent corporate bond issue of Sh4.42 billion, seeks to strengthen its capital base to support growth and onward lending activities to MSMEs across different sectors,” she added.
She was accompanied by the bank’s chairman, Mr Wilfred Kiboro, and its founder Titus Muya.
Mr Kiboro said the bank will also engage in corporate social responsibility for improved livelihoods of the residents.
The Isiolo branch brings to 93 the total number of Family Bank's branches countrywide.