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Nomo Upgrades Its Sharia-Compliant International Bank

The fully digital service will use technology from Paymentology’s card issuing platform to offer a next-generation service.

Published

2 years ago

May 5, 2023

Nour Nasir

nomo upgrades its sharia-compliant international bank

Nomo, the world’s first fully digital Sharia-compliant cross-border bank, has teamed up with leading global issuer-processor Paymentology to build a cutting-edge and seamless customer payment experience.

Nomo offers Middle East customers a wide range of global banking services, including current accounts, property finance, international transfers, and more through its iOS and Android apps. The service also allows users to track spending, make fast payments, and manage their finances more effectively.

Nomo has already benefited from Paymentology’s cloud-based technology by introducing multi-currency accounts offering six currencies – GBP, USD, EUR, KWD, AED, and SAR. The service helps customers avoid exchange fees and provides fast, safe cross-border payments.

Now, as part of the official Nomo / Paymentology partnership, the digital bank will benefit from faster processing times, best-in-class fraud protection, and Mastercard virtual cards. Meanwhile, Paymentology will deliver a real-time data feed, providing granular insights to help Nomo improve its platform.

Martin Heraghty, Regional Director Europe of Paymentology, spoke positively about the collaboration: “As the demand for Sharia-compliant digital products and services continues to grow, Nomo is at the forefront of delivering solutions that cater to the needs of Islamic customers and beyond. With our innovative payment technology, Nomo is paving the way toward a seamless, customer-centric digital banking future. We look forward to launching more ground-breaking services together”.

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Meanwhile, Sean Gilchrist, CEO of Nomo, explained how Paymentology had improved the Nomo offering: “Paymentology’s technology has helped us build a unique offering for our customers, helping them to conduct cross-border transactions without high fees, directly from the Nomo app. We remain committed to continuously developing innovative solutions and reimagining digital Sharia banking for everyone”.

Related Topics:FinTech Nomo Paymentology

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UAE’s Etihad Rail Launches In 2026 — What You Need To Know

A 1,200 km passenger network will transform public transport, with 11 connected cities, and high-speed trains cutting inter-emirate travel times.

Published

1 day ago

May 19, 2025

Nour Nasir

Etihad Rail

Etihad Rail has confirmed that its long-anticipated passenger train service will officially launch in 2026, ushering in a new era of high-speed, inter-emirate travel. The UAE’s national railway developer shared the announcement on X (formerly Twitter), as work continues on a 1,200 km passenger network set to connect 11 cities across all seven emirates.

The news marks a major leap in public transportation for the country, with passenger trains designed to reach speeds of up to 200 km/h. Travel times will be significantly reduced — Abu Dhabi to Dubai is expected to take just under an hour, while the journey to Fujairah will be cut to around 105 minutes. A separate high-speed line, capable of reaching 350 km/h, is also in the works to link Abu Dhabi and Dubai in just 30 minutes.

The backbone of the network was completed in 2023, when Etihad Rail launched its 900 km freight service linking key industrial and logistics hubs across the UAE, including ports in Abu Dhabi, Dubai, and Fujairah. Now, the focus has shifted to passenger infrastructure.

The first station will be located in Sakamkam, Fujairah city centre, and a second is confirmed near University City in Sharjah. Dubai’s main station is expected to be adjacent to Jumeirah Golf Estates Metro Station, while Abu Dhabi’s is anticipated along the corridor separating Mussafah Industrial Area and Mohammed Bin Zayed City.

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Once completed, the passenger network will link cities including Al Sila, Al Ruwais, Al Mirfa, Dubai, Sharjah, Al Dhaid, Abu Dhabi, Ras Al Khaimah and Fujairah. Integration with Oman is also part of the long-term vision. A new cross-border project — Hafeet Rail — will span 303 km between Sohar and Abu Dhabi’s Al Wathba area. Developed by Etihad Rail in collaboration with Oman Rail and Mubadala, the link is expected to deepen trade and tourism ties between the two countries.

Etihad Rail’s passenger trains will carry up to 400 passengers each and feature Wi-Fi, entertainment systems, charging points, and onboard food and beverage options to ensure a comfortable experience. To further simplify access, passengers will be able to pay with their nol cards, thanks to a partnership between Etihad Rail and Dubai’s Roads and Transport Authority (RTA). The collaboration aims to integrate fare payments and booking systems under one unified platform.