The First Community Bank has disclosed its plans to lay-off an undisclosed number of workers to reduce operational costs.
The small lender is established and operating on Shariah law's Chief Executive Officer Fazal Saib.
In an internal memo, the bank said its workers will be sent home in the next two weeks.
Saib noted the bank has acquired services of an external consultant to help in identifying sections of the bank where staff reduction can be made safely without negatively affecting the bank's operations.
This follows three months consultation between the bank and its board.
First Community Bank is the latest to make such a move ever since President Uhuru Kenyatta signed the Banking Amendment Act 2016 into law.
The Bill caps bank's interests by 14 per cent, a move that has seen many lenders complain of income and profit reduction.
Other banks that are laying off workers include Family Bank, Equity Bank which plans to retrench 400 workers this year and Sidian Bank which plans to lay off 108 employees.
Despite the complains and losses being made by the bankers over the interest cap,majority of Kenyans have since praised the President for the decision as many of them have been rescued from paying heavy interests to lenders for acquired loans.