FCA Warns Against First Islamic Cooperative Investment Bank PLC

The UK Financial Conduct Authority (FCA) has warned consumers not to deal with First Islamic Cooperative Investment Bank PLC, saying the firm is unauthorised and may be targeting people in the UK. The warning covers the name First Islamic Cooperative Investment Bank PLC and the website ficibank.com. The FCA lists the firm’s address as 13 Berth Ford Road, Edinburg, United Kingdom, EH1 1BJ, and gives the telephone number +44 7441 440181. It cautions that unauthorised firms may use incorrect or changing contact details, or details belonging to another business or person, so consumers should not rely on the information supplied by the firm to establish its legitimacy. People who deal with the firm would not have access to the Financial Ombudsman Service to complain and would not be protected by the Financial Services Compensation Scheme if the firm failed. The FCA says customers should check the FCA Firm Checker before dealing with a financial business and use the contact details listed there when responding to an unexpected approach. Anyone who believes they have been approached by an unauthorised firm can contact the FCA on 0800 111 6768 or use its online contact form. The FCA also notes that people who sent money to a fraudster on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator, depending on the circumstances.