The first independent digital banking platform in the United Arab Emirates launched, a neobank hoping to become a leader in the Middle East, Africa, and South Asia. The UAE’s first digital bank Zand has announced its board of directors as it gears up for “an imminent launch”.
The directors include Gregory Johnson, the executive chairman and chairman of the board of Franklin Resources; founder and CEO of Al Hail Holding, Hamad Jassim Al Darwish; COO of Al Hail Holding, Mohammed Alshaiba Almazrouei; EVP of DIFC FinTech Hive, Raja Al Mazrouei; group CFO Aditya Birla Group, Sushil Agarwal; and Yusuff Ali M A, chairman, and MD of the Lulu Group. The Zand chairman is Mohamed Alabbar, founder of Emaar Properties. He said: “Building a new and unique digital banking experience is about more than just technology. “It requires visionary people with a digital mindset who believe in the power of technology to improve people’s lives while creating a sustainable business model.”
“We’re delighted to welcome the new board members to Zand, and I know that all of us will benefit from their forward-thinking mindset and leadership,” said Mohamed Alabbar, who will chair the board. “Building a new and unique digital banking experience is about more than just technology. It requires visionary people with a digital mindset who believe in the power of technology to improve people’s lives while creating a sustainable business model,” he added.
MA leads the group’s multinational operations of more than 235 shopping malls, hypermarkets, and sourcing centers in 23 countries with $7.4 billion in annual global revenue. Through fully digital offerings, Zand has promised to make banking quicker and simpler, and provide tools that put customers in control of their financial lives.
