Dubai’s Alabbar to lead new digital-only UAE bank
- Date: 14-Apr-2021
- Source: Salaam Gateway
- Sector:Technology
- Country:UAE
Dubai’s Alabbar to lead new digital-only UAE bank
Published 12 Apr,2021 via Arab News - Economy - Dubai businessman Mohamed Alabbar is to lead a new digital bank set to be launched soon in the UAE.
Zand is being billed as “the world's first combined digital corporate and retail bank” and is currently going through final approvals ahead of its launch, according to an announcement issued on Monday.
Alabbar is the founder of Emaar Properties — the Dubai developer behind The Dubai Mall and Burj Khalifa — and also teamed up with Saudi Arabia's Public Investment Fund (PIF) to launch the Noon online shopping platform in 2017. As part of his latest venture, he will take on the role of chairman of Zand.
“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,” Alabbar said in a statement.
“As the first fully independent digital bank in the country, with
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