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Lender FCB head-hunts for senior managers

Sharia-compliant lender First Community Bank (FCB) is hiring senior managers a year after it laid off a third of its workforce.

The lender said in a notice posted on local dailies it is seeking individuals for the positions of head of credit, treasury manager, head of operations, debt recovery manager and credit analyst.

“The position holders will leverage on the bank’s brand, goodwill, infrastructure, existing business and potential to undertake operations and business in strict regulatory compliance,” said the bank.

Bank chief executive officer Fazal Mehmood Saib did not respond to the Business Daily’s questions on the planned hiring.

The lender whose employee count stood at just over 300 employees two years ago issued 106 of them with redundancy letters in 2016, citing cost cutting measures.

The letters dated November 30 and signed by Mr Saib indicated the affected employees would receive their salaries to December 4 and receive one month pay.

They would receive severance pay of two weeks’ pay for every year worked as well as compensation of any accrued or unutilised leave days.