bank limited type private subsidiary industry banking and finance founded 1991 headquarters nairobi kenya key people john mwara kibochi managing director products loans micro insurance parent old mutual website homepage faulu microfinance bank limited is an microfinance institution in kenya . the word faulu is swahili for succeed . contents 1 overview 2 history 3 ownership 4 operations 4.1 mobile banking 4.2 faulu chama loans and saving products 5 see also 6 references 7 external links overview edit faulu microfinance bank limited commonly referred to as faulu kenya is a microfinance bank based in kenya . it is regulated by the central bank of kenya . 1 history edit faulu microfinance bank limited was founded in 1991 by food for the hungry international fhi a christian organization as an ngo whose main objective was to provide credit to lower income households and micro enterprises in nairobi . it received funding from various donors among them the department for international development dfid and the united states agency for international development usaid faulu grew over the years to a level of near financial self sufficiency . in order to have more access to commercial funding faulu kenya was incorporated into a private company in 1999 . 2 in 2008 faulu microfinance became the first micro finance institution to obtain the deposit taking licence from the central bank of kenya . 3 faulu kenya became a kiva partner on july 18 2009 . this gave them access to funding through the kiva network of partners . as of july 2014 faulu had raised over usd 2.8 million in loans through kiva . 4 in april 2014 old mutual completed it acquisition of 67 % of faulu kenya 5 through a ksh 2.8 billion capital injection . 6 the acquisition gave old mutual a greater market reach through the faulu kenya branches across kenya and gave faulu kenya greater capital to meet statutory requirements . ownership edit the stock of faulu kenya is privately held with old mutual being the largest shareholder with 67 % of the issued capital . operations edit mobile banking edit banks in kenya are embracing mobile payment services due to the popularity of m pesa . paying bills and for online services is simpler faster and more convenient with mobile money . m pesa is the most popular mobile payment option in kenya . 7 faulu kenya is one of the micro finance institutions in kenya that support mobile banking . clients can use m pesa to deposit money into their faulu accounts . 8 faulu chama loans and saving products edit other reasons for the good ratings of faulu kenya include their accessibility through the many faulu bank branches in all counties in kenya competitive interest rates on loans and savings and support for chamas through the faulu chama loans chama is swahili for party or group . a faulu chama is a self help group or welfare group . 9 chamas benefit by either saving for a later investment or by accessing a chama loan . see also edit old mutual central bank of kenya references edit list of licensed deposit taking microfinance institutions cbk faulu kwft study about faulu our background faulu kenya kiva partner old mutual acquires 67pc of faulu kenya old mutual injects sh2 .8 b for majority stake in faulu kenya why m pesa is popular in kenya deposit to faulu account using m pesa faulu chama external links edit faulu kenya central bank of kenya faulu kenya branches v t e banks of kenya central bank central bank of kenya commercial bank african banking corporation bank of africa barclays bank bank of baroda bank of india cfc stanbic bank chase bank citibank na kenya commercial bank of africa consolidated bank of kenya cooperative bank of kenya credit bank development bank of kenya diamond trust bank east african development bank ecobank kenya equity bank family bank fidelitybank first community bank giro commercial bank guaranty trust bank kenya guardian bank gulf african bank habib bank habib bank ag zurich housing finance company of kenya i & m bank limited imperial bank limited jamii bora bank kenya commercial bank middle east bank kenya m oriental bank national bank of kenya nic bank paramount universal bank post bank prime bank sidian bank spire bank standard chartered kenya trans national bank kenya united bank for africa victoria commercial bank financial services organization diamond trust bank group equity group holdings limited commercial bank of africa group guaranty trust bank east africa i & m bank group kenya commercial bank group nic bank group foreign banks bank of china bank of kigali hdfc bank nedbank the hongkong and shanghai banking corporation first rand defunct banks dubai bank kenya euro bank microfinance institutions faulu microfinance bank limited smep microfinance bank kenya women microfinance bank related topics automated teller machine atm atm usage fees de materialisation demat foreign exchange forex financial services real time gross settlement rtgs national electronic fund transfer neft structured financial messaging system sfms retrieved from https en.wikipedia.org w index.php title faulu microfinance bank limited & oldid 709867289 categories microfinance companies of africabanks of kenyacompanies based in nairobibanks established in 19911991 establishments in kenyahidden categories engvarb from november 2015use dmy dates from november 2015 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 13 march 2016 at 15 55 . text is available under the creative commons 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