Zand, the first digital bank in the world to provide both retail and corporate banking is set for imminent launch in the UAE, subject to final regulatory approvals. In addition to innovative banking services, Zand is set to be a digital economic accelerator, providing the foundations for a broader generation of digital services.

His Excellency Mohamed Alabbar, the bank’s Chairman said “The UAE combines progressive regulations with commercial, financial, and technology hubs. This provides the perfect environment for a world-leading digital bank that can launch in the UAE and scale beyond. As the first fully independent digital bank in the country, with a full UAE banking licence, Zand will provide innovative, effective financial solutions that help simplify businesses and lives, addressing the needs of both retail and corporate customers”.

Through fully digital offerings, Zand will make banking quicker and simpler, and provide tools that put customers in control of their financial lives. It will also be unique in focusing on ecosystems and communities of businesses and individuals, enabling it to introduce unique products and services not traditionally available.

Zand’s CEO, Olivier Crespin, added “Backed by strong shareholders and working with the best bankers and technologists, we’ve built a bank that delivers on the promise of understanding and meeting customer needs. From our systems to our processes and our team, we're built and ready, and we're looking forward to welcoming the first customers soon”.

Source- Press Release

Country- UAE