Al Hilal Bank customers in the UAE now have a quick and simple way to access digital banking services as if they were in the UK
The digital banking subsidiary of ADCB – Al Hilal Bank – has partnered with the Bank of London and the Middle East (BLME) to bring digital UK banking to UAE nationals and residents through Nomo – fully digital international Islamic bank.
The partnership allows Al Hilal Bank’s clients to open UK-based multi-currency current and savings accounts and apply for UK home financing remotely. All the services can be accessed via the newly launched ADCB-Nomo and Al Hilal-Nomo banking apps.
Nomo is a digital-oriented division of BLME, which is a subsidiary of Boubyan Bank, one of the leading financial institutions in the Middle East. The neobank was established to bring Shari’ah-compliant digital banking to non-UK residents. Its multi-currency accounts are perfectly suitable for people with dynamic international lifestyles.
Among the benefits of ADCB-Nomo and Al Hilal-Nomo, there’s zero fee spending in six currencies (GBP, USD, AED, EUR, KWD and SAR), fee-free money transfers to UK bank accounts, savings in UK-based Fixed Term Deposits in GBP and USD with favourable rates. Moreover, affluent account owners receive additional benefits. Thus, if you open a Fixed Term Deposit account with a balance over 25,000 GBP or 30,000 USD, you get improved rates to grow your wealth faster.
Customers also receive access to financing that may help them buy properties in the UK, whether as an investment, office space or a second home.
Islamic banks are consistently looking for innovative ways to serve their clients with their increasingly sophisticated financial needs. We have recently reported that the first Islamic Bank went live on UAE KYC Blockchain Platform.