Nomo and Allfunds Launch Digital Sharia-Compliant Investment Platform for GCC Clients

Sharia-compliant digital bank Nomo has partnered with investment service provider Allfunds to launch a fully digital, Sharia-compliant investment platform. For fintech professionals, this move signals a significant shift in the GCC wealth management landscape, bridging the gap between traditional Islamic finance and modern digital-first brokerage services by lowering entry barriers for retail investors in Kuwait and the UAE.

What was announced

Nomo Investments is a new proposition integrated directly into the Nomo app, designed to provide retail customers with access to professionally managed global portfolios. The service is built on Allfunds’ Nextportfolio digital investment solution, which handles the end-to-end investment journey from onboarding to portfolio management. To lower the barrier to entry for wealth creation, the platform allows customers to begin investing with a minimum of $1,000.

The rollout has already yielded specific engagement metrics within the Gulf Cooperation Council (GCC) region. According to Nomo, one-third of users who complete the mandatory in-app investor personality questionnaire—a tool used to gauge risk appetite and financial goals—proceed to fund an investment. Furthermore, approximately 20% of these users have automated their wealth building through regular monthly investment plans.

Risk profiles among the user base show a distinct leaning toward growth; 58% of customers in the region have opted for the "Adventurous Portfolio." This data aligns with Nomo’s internal research, which indicated that the primary driver for increased investment activity in the GCC is not necessarily a reduction in fees, but rather access to personalized support and educational resources. In fact, 62% of surveyed residents stated they would be more active investors if provided with better educational content. The demand has been particularly pronounced in the Kuwaiti and UAE markets.

"Allfunds have been an integral partner on the journey to creating a seamless digital platform that allows our customers to access professionally managed, Sharia-compliant portfolios. It’s great to be able to support GCC clients, who may have never thought of themselves as investors before, with access to this product, giving them the confidence to build wealth for the future."

Oliver Green, Head of Nomo Investments.

The companies involved

Nomo operates as a Sharia-compliant cross-border digital banking platform, positioning itself as a bridge for customers in the Middle East who require sophisticated banking and investment services that adhere to Islamic principles. By focusing on a digital-first approach, Nomo aims to capture a segment of the market that has traditionally been underserved by legacy institutions, particularly those looking for international exposure without compromising on religious compliance.

Allfunds stands as one of the world’s largest fund distribution platforms, providing a massive infrastructure for the global investment industry. Beyond simple distribution, the firm offers a suite of value-added services including fund analytics, due diligence, and sophisticated model portfolios. Its Nextportfolio solution, utilized in this partnership, is specifically designed to enable financial institutions to launch digital wealth management tools quickly and efficiently. Allfunds maintains a significant global footprint, acting as a central hub between fund houses and distributors, and has increasingly focused on enhancing the digital experience for its institutional clients through integrated technology solutions that streamline the complex process of fund selection and portfolio monitoring.

What FF News has reported before

FF News has closely tracked the evolution of both companies as they expand their digital footprints. We previously covered the foundational data behind this launch in Nomo Research Reveals 15 Million GCC Residents Ready to Pivot from Saving to Investing, which highlighted the massive scale of the untapped retail market in the GCC. Allfunds has also been a frequent subject of our reporting, particularly regarding its infrastructure partnerships. This includes the major collaboration detailed in Allfunds and HSBC Launch T+0 Same-Day Settlement for Hong Kong Money Market Funds, a move that significantly improved liquidity for Asian markets. Additionally, we reported on their efforts to broaden product availability in Allfunds and DWS Partner to Expand Global ETF Distribution via Xtrackers Platform, demonstrating the company’s role in scaling ETF access globally.

What this means

This partnership moves the needle by proving that Sharia-compliant wealth management can successfully transition from a high-touch, private banking model to a scalable digital retail product. By lowering the entry point to $1,000, Nomo and Allfunds are putting immense pressure on traditional GCC banks that have historically reserved managed portfolios for high-net-worth individuals. The high adoption of "Adventurous Portfolios" suggests that the industry may have previously underestimated the risk appetite of the modern Islamic investor. The open question now is how quickly competitors will move to integrate similar educational and personalized support features to prevent a mass migration of retail capital to digital-native platforms.