Nomo’s Launch As First International Islamic Digital Bank

Simmons & Simmons advised Boubyan Bank and the Bank of London and The Middle East (BLME) on the creation of Nomo.

Using cutting edge technology, Nomo’s new users will be able to open a UK bank account in minutes via the Nomo app. This new banking product will enable users to take advantage of the opportunities of using a stable UK based bank, while ensuring that their money management is Sharia’a compliant.

The cross-practice Simmons team advising on the project was led by head of digital business Alex Brown (Picture), supported by financial services partner Rosali Pretorius, Islamic finance and Middle East regulatory partner Muneer Khan, IP partner Darren Meale, corporate partner Steph Featherstone and service excellence project manager Vanessa Pritchard.

Involved fees earner: Alexander Brown – Simmons & Simmons; Steph Featherstone – Simmons & Simmons; Muneer Khan – Simmons & Simmons; Darren Meale – Simmons & Simmons; Rosali Pretorius – Simmons & Simmons;

Law Firms: Simmons & Simmons;

Clients: Boubyan Bank;

Author: Federica Tiefenthaler