Breaking News

UAE digital bank Zand backed by Emirates, Lulu Group, Franklin, Aditya Birla

July 2, 2022
banking

Zand is expected to be UAE's first fully-independent digital bank with a focus on both retail and corporate services

While the long awaited launch of Dubai-based Zand, backed by prominent developer Mohamed Alabbar, is now imminent, the digital bank has onboarded new board members who constitute a mix of business leaders and top bankers from various corporate behemoths

Chaired by Emaar Properties founder Mohamed Alabbar, the developer behind The Dubai Mall and Burj Khalifa, the board includes:

Adnan Abdulfattah Kazim, Chief Commercial Officer, Emirates

Gregory Johnson, Executive Chairman and Chairman of the Board, Franklin Resources, Inc.

Hamad Jassim Al Darwish, founder and CEO, Al Hail Holding LLC

Raja Al Mazrouei, Executive Vice President, DIFC FinTech Hive

Sushil Agarwal, Group CFO, Aditya Birla Group

Talha Al-Hashimi, CEO and co-founder, HWH Investments

Yusuff Ali M. A., Chairman and Managing Director, Lulu Group

Mohammed Alshaiba Almazrouei, Chief Operating Officer of Al Hail Holding LLC

“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,” Alabbar said.

Oliver Crespin is the Co-founder and CEO of Zand, which is expected to be UAE's first fully-independent digital bank with a focus on both retail and corporate services. The shareholders of Zand completed the acquisition of the majority stake in Dubai Bank from Emirates NBD in December.

zawya