Access Financial Services (Access FS) has teamed up with Nomo Bank to introduce a groundbreaking Sharia-compliant property finance option for the UK market. This collaboration marks a significant step forward in meeting the unique financial needs of customers from the Gulf Cooperation Council (GCC) who are eyeing residential properties or buy-to-let opportunities in the UK.

Understanding Sharia-Compliant Finance

For those not in the know, Sharia-compliant finance is a type of financial service that adheres to the principles of Islamic law. This collaboration between Access FS and Nomo Bank means that customers can now invest in UK properties without having to compromise their religious beliefs. A key aspect of this finance option is that it doesn’t require borrowers to have a UK credit history, making it more accessible for international investors.

Nomo launched in the UK in February 2023, and made headlines as the first digital bank offering Sharia-compliant services across borders. It’s a part of the Bank of London and The Middle East plc (BLME), under the umbrella of Boubyan Bank. So, it’s safe to say, they know their stuff.

Access FS are a fast-growing brokerage and clearly on the same wavelength as Nomo when it comes to values.

Sean Gilchrist, CEO at Nomo, is thrilled. He said, “We have partnered with Access FS as they are an exciting, fast-growing UK brokerage that closely aligns with our values. Access FS will help us bring Sharia-compliant financing to more customers, helping them to buy their residential or buy-to-let portfolio.”

Karl Wilkinson of Access FS is equally excited. He said, “We love the ethos behind Nomo, and are looking forward to being able to help our customers access Sharia-compliant property finance solutions. Customers will be able to purchase a property in the UK without compromising on their principles.”