June 15, 2024

Nomo Bank inks partnership with ADCB and Al Hilal Digital Bank

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Al-Majed and Eraiqat during signing the partnership.
Al-Majed and Eraiqat during signing the partnership.

Nomo Bank, the Digital Bank of the Bank of London and the Middle East “BLME”, a subsidiary of Boubyan Bank Group, announced inking a new partnership with Abu Dhabi Commercial Bank “ADCB” and the Sharia-compliant Al Hilal Digital Bank, a subsidiary of ADCB Group, to give their U.A.E. customers the ability to benefit from the innovative services and solutions of Nomo Bank.

This digital partnership will offer a unique banking experience to U.A.E. customers, allowing them to benefit from Nomo’s digital services and products in an easy and secure manner through ADCB-Nomo and Al Hilal Nomo Apps.

On this occasion, Mr. Adel Abdul Wahab Al-Majed, Chairman of the Bank of London and the Middle East “BLME”, and GCEO of Boubyan Bank Group, stated: “We are pleased to cooperate with Abu Dhabi Commercial Bank (ADCB) and Al Hilal Digital, being among the leading banking institutions in innovation and excellence. This step confirms the reach of Nomo’s innovative banking solutions to global markets.”

“This partnership is aligned with Nomo’s expansion strategy that aims at increasing the number of its GCC customers and providing them with the best digital solutions backed by state-of-the-art innovations, while focusing on certain segments of customers who are interested in specific services such as property finance and many other services through ADCB-Nomo and Al Hilal Nomo Apps. U.A.E. resident customers will be able to benefit from the Sharia-compliant digital banking services offered by Nomo as if they were in the U.K.”, Al-Majed added.

He elaborated: “We have recently launched new products and services from Nomo such as the multicurrency account which allows customers to open it within seconds using the Nomo App, and immediately benefit from its remittance and fund-transfer services, coupled with the possibility of linking the account with Nomo card and Apple Pay to use it globally without incurring any international fees.”

Speaking about those interested in owning residential or investment properties in the United Kingdom, Al-Majed said: “They can now benefit from the property finance product to own properties in the U.K., after applying within minutes for property finance. We can see that all products launched by Nomo are bundled as integrated services to serve as a complete set of innovative banking solutions, while guaranteeing the highest levels of protection and security.”

Accelerating Digital Transformation in Innovative Ways

On his part, Mr. Ala’a Eraiqat, ADCB Group CEO, and Al Hilal Bank Chairman, commented on this partnership and said: “It comes as a part of implementing the group’s strategy that aims at bolstering growth by accelerating digital transformation and maintaining the group’s leadership and excellence in offering an exceptional banking experiences to customers, while providing them with innovative digital banking solutions.”

Mr. Eraiqat went on to add: “Today, we offer our customers in the U.A.E. a group of innovative digital services by collaborating with Nomo, the World’s First Islamic Digital Bank, enabling us to offer a unique banking experiences, marked by swiftness and smoothness. This allows our customers to manage and control their accounts in the United Kingdom without having to leave the U.A.E., in a step that confirms the leadership of ADCB in keeping pace with the latest digital banking technology.”

“Both ADCB-Nomo and Al Hilal-Nomo Apps will help provide our customers with the banking services currently offered by Nomo Bank, thus allowing them to manage their wealth and savings internationally by following easy steps and a simple process.”, he pointed out.

Sean Gilchrist, CEO – Nomo

On his part, Mr. Sean Gilchrist, CEO – Nomo, stated: “It is no secret that the Middle East harbors an excellent and huge customer base aspiring to avail Sharia-compliant digital banking services. Through this partnership, we can employ our vast experience in the United Kingdom to help meet the increasing demand for Nomo’s digital solutions and to offer unprecedented innovative solutions to customers.”

He added: “In Nomo Bank, we always seek to be closer to our customers to make international banking and investment services easily within their reach, while offering them a world-class banking experience backed by easily available and innovative technology.”

He elaborated: “Ever since the launch of Nomo Bank, we have been witnessing continued growth whether in the number of customers or the innovative digital banking products offered by the bank, which are highly welcomed and used by our customers.”

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