UAE’s ADCB Group has partnered with digital bank Nomo, part of Bank of London and the Middle East (BLME), which will give UAE citizens and residents access to UK-based Shariah-compliant multicurrency current and savings bank accounts.
The partnership paves the way for the banks’ UAE customers to apply for UK home financing on their smartphones using the newly launched ADCB-Nomo and Al Hilal-Nomo banking apps. The unique proposition allows customers to get finance to buy properties in the UK as an investment or as a second home.
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.
“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,” Ala’a Eraiqat, ADCB Group CEO and Al Hilal Bank Chairman said in a statement.
UAE customers will have the opportunity to get finance to help them buy properties in the UK as an investment or as a second home. The ADCB-Nomo and Al Hilal-Nomo apps are available on iOS and Android operating systems.
