Now, UAE residents can open UK-based financial institution accounts

Nomo is a part of BLME, a subsidiary of Boubyan Financial institution, one of many main monetary establishments within the Center East. Nomo was established to deliver high-quality, Shari’ah-compliant digital banking to non-UK residents within the Center East.

Ala’a Eraiqat, ADCB Group CEO, and Al Hilal Financial institution Chairman, mentioned: “ADCB’s partnership with Nomo is a part of our technique to drive digital-enabled development. We’re targeted on sustaining ADCB’s management place in buyer expertise and are dedicated to offering prospects with progressive digital banking options and an unparalleled banking expertise. The ADCB-Nomo and Al Hilal-Nomo apps will simplify worldwide banking and unlock new financing alternatives for our prospects with pursuits within the UK.”

The ADCB-Nomo and Al Hilal-Nomo apps will give prospects the power to spend fee-free globally in six currencies (GBP, USD, AED, EUR, KWD and SAR), ship cash fee-free to UK financial institution accounts, and save in UK-based Mounted Time period Deposits in GBP and USD. Prospects will even have the chance to get finance to assist them purchase properties within the UK as an funding or as a second house.

Adel Abdul Wahab Al Majed, Vice-Chairman and Group CEO, Boubyan Group, added: “ADCB is a market chief in GCC banking in relation to excellence, safety and innovation, and it’s a vastly thrilling prospect to be partnering with them. Our collective mission is to present prospects within the UAE distinctive alternatives to speculate and handle their wealth internationally, simplifying difficult banking processes and avoiding excessive cross-border charges. The ADCB-Nomo and Al Hilal Nomo apps will make this a actuality.”