Shariah-compliant First Community Bank customers are unable to withdraw their monies as the bank limits heavy drawings occasioned by panicking customers.
FCB chief executive officer, Mr Hussein Hassan, said in a statement that malicious speculation had led to panic by depositors who then rushed to withdraw their savings, thus putting a strain on its operations.
“First Community Bank would like to assure all our esteemed customers and the general public that the Bank remains in a good position to serve you now and in the long-term. We acknowledge that our customers may currently be experiencing challenges in some of their transactions occasioned by panic withdrawals informed by malicious rumours,” Mr Hussein Hassan.
The bank said “unprecedented withdrawals” had also forced it to limit the daily withdrawal limit of its customers.
Dr Hassan further added that as a responsible bank, FCB understands that these restrictive measures have not been favourable to our customers but are necessary to maintain stability in the short and long term.
“We are continuing to implement a number of measures to address the challenges customers are currently experiencing. We urge our esteemed customers to maintain confidence in FCB reposed in us over the years and for the general public to engage us directly to obtain accurate information.” Mr Hussein Hassan.