- The new partnership gives UAE residents easy access to UK banking opportunities
- Customers will be able to open offshore UK current accounts from the UAE with access to multi-currency banking, mortgage and savings accounts.
Abu Dhabi, UAE: ADCB and its Shari’ah compliant digital banking subsidiary Al Hilal Bank have announced an innovative new partnership with London-based BLME to bring digital UK banking to UAE nationals and residents through Nomo.
Customers in the UAE can now open UK-based multi-currency current and savings accounts, as well as apply for UK home financing, from their smartphones using the newly launched ADCB-Nomo and Al Hilal-Nomo banking apps. This unique proposition, which gives UAE consumers a quick and simple way to bank in the UK from the UAE, demonstrates ADCB Group’s agility and commitment to consistently provide market-leading customer experience.
Nomo is part of Bank of London and The Middle East plc (BLME), a subsidiary of Boubyan Bank, one of the leading financial institutions in the Middle East. Nomo was established to bring high-quality, Shari’ah-compliant digital banking to non-UK residents in the Middle East.
Ala’a Eraiqat, ADCB Group CEO, and Al Hilal Bank Chairman said: “ADCB’s partnership with Nomo is part of our strategy to drive digital-enabled growth. We are focused on maintaining ADCB’s leadership position in customer experience and are committed to providing customers with innovative digital banking solutions and an unparalleled banking experience. The ADCB-Nomo and Al Hilal-Nomo apps will simplify international banking and unlock new financing opportunities for our customers with interests in the UK.”
The ADCB-Nomo and Al Hilal-Nomo apps will give customers the ability to spend fee-free globally in six currencies (GBP, USD, AED, EUR, KWD and SAR), send money fee-free to UK bank accounts, and save in UK-based Fixed Term Deposits in GBP and USD. Customers will also have the opportunity to get finance to help them buy properties in the UK as an investment or as a second home.
“ADCB is a market leader in GCC banking when it comes to excellence, security and innovation, and it’s a hugely exciting prospect to be partnering with them,” said Adel Abdul Wahab Al-Majed, Vice-Chairman & Group Chief Executive Officer, Boubyan Group, “Our collective mission is to give customers in the UAE unique opportunities to invest and manage their wealth internationally, simplifying complicated banking processes and avoiding high cross-border fees. The ADCB-Nomo and Al Hilal Nomo apps will make this a reality.”
A fully-mobile service, the ADCB-Nomo and Al Hilal-Nomo apps are available on iOS and Android operating systems.