Inside FCB Mihrab Tower: The Owners Behind Nairobi’s Iconic Building

Mirhab is a 25-floor building, which is located at Lenana Rd in Kilimani

Mihrab Tower is a 25-floor commercial building located along Lenana Road in Kilimani, one of Nairobi’s fastest-growing business and residential hubs.

The building was constructed for Ksh1.3 billion and officially opened in 2017. It serves as the headquarters of First Community Bank (FCB), Kenya’s first fully fledged Sharia-compliant bank.

Architecturally, Mihrab Tower is designed to resemble a mihrab, the niche in a mosque that indicates the direction of Mecca.

The design symbolises guidance, purity, and moral direction, reflecting the Islamic banking principles on which FCB operates.

Ahmednasir Founded FCB Bank, Which Owns Mihrab Tower

The building is owned by FCB Bank, which was founded by Senior Counsel Ahmednasir Abdullahi, his long-time business partner Abdikadir Hussein Mohamed, Hassan Varvani, who also serves as the bank’s chairman, and Amir Nahdi, a Tanzanian businessman.

Ahmednasir Abdullahi

Ahmednasir is one of Kenya’s most prominent lawyers. He holds a Bachelor of Laws (LL.B) degree and a Master of Laws (LL.M) degree and has practiced law for more than three decades.

He previously served as lead counsel for the Office of the President before the Waki Commission investigating the 2007–2008 post-election violence.

He also represented former President Uhuru Kenyatta in the 2017 presidential election petition at the Supreme Court and acted for the Independent Electoral and Boundaries Commission in the 2013 election petition.

Ahmednasir also taught law at the University of Nairobi for over 12 years.

Abdikadir Hussein Mohamed

Abdikadir Mohamed is a lawyer and former politician. He holds an LL.B from the University of Nairobi and an LL.M from Harvard Law School.

He served as Member of Parliament for Mandera Central Constituency between 2007 and 2013 and previously worked at the Executive Office of the President as Senior Legal Adviser on constitutional and legal affairs.

Before joining politics, Abdikadir was a partner and managing partner at Ahmednasir, Abdikadir & Company Advocates, where he worked for nearly two decades. He is currently a senior partner at Abdikadir & Abdikadir Company Advocates.

FCB Bank Shareholding

As of October 2022, FCB Bank had 29 shareholders.

According to Daily Nation, Hussein Ali Salad, through Opportunity Logistics Services Limited, was the largest shareholder with 811,000 shares, representing 16.5 percent.

Ameir Munif Abdallah Nadhi and Said Edha Abdallah Nadhi were the joint second-largest shareholders, each holding 805,000 shares.

Former Chase Bank chief executive Zafrullah Khan owned 135,059 shares, equivalent to 2.7 percent, making him the sixth-largest shareholder.

Among the founders, Ahmednasir Abdullahi held 325,614 shares, while Abdikadir Mohamed owned 75,000 shares. Board chairman Hassan Varvani held 153,827 shares.

Other shareholders included Ali Yasin Farah, Yusuf Ali Juma, Yusuf Ahmed Dahir, Mansoor Mohamed Hassan, Amina Mohamed, Abdulhamid Mohamed Aboo, and several others with varying shareholdings.