Boubyan Bank Launches Islamic International Digital Bank; Allows Kuwaitis to Invest in UK Banking Sector

Kuwait-based Boubyan Bank Group has announced the launch of Nomo, a fully licensed and regulated Islamic digital bank in the United Kingdom (UK), according to a statement issued on the 14th of July 2021. The digital bank has been launched as a brand name of the UK-based Bank of London and The Middle East (BLME), in which Boubyan Bank is a majority shareholder. Nomo offers Shariah-compliant UK bank accounts and financial management services for clients in Kuwait and the Middle East region with international banking needs.

Why it Matters?

According to Adel Abdul Wahab Al-Majed, Chief Executive Officer (CEO) of Boubyan Bank Group and Chairman of BLME, Nomo is the world’s first international digital Islamic bank, which provides Islamic digital banki...