The world’s first Islamic international digital bank will be launched in the UK, Boubyan Bank Group announced today.
Nomo, part of the Boubyan Bank Group, will offer bank accounts and financial management services for clients in Kuwait and the Middle East region.
Nomo has been created as a brand name of the UK-based Bank of London and The Middle East. It is designed to provide a digital solution for accessing and investing money in the UK and internationally.
Customers will be able to create an account quickly through the Nomo iPhone app and transfer money in GBP and USD.
Adel Al-Majed, CEO of Boubyan Bank Group and BLME chairman, said: “Nomo part of BLME is a fully licensed UK bank, offering a unique opportunity for customers to benefit from one of the most prestigious banking systems in the world.”
“We’ve put together a carefully selected team of global digital banking and payments experts to help us create the future of Islamic international digital banking.”
Andrew Ball, CEO of BLME, said: “UK banks are admired around the world for their stability, resilience and high levels of governance. Digitisation will enable customers in the Middle East to open and enjoy the benefits of a UK bank account in the knowledge that it also meets their Sharia principles and beliefs.”