Latest News

We understand the importance of availability, and we act on it.

UAE Launches First Digital Bank


Digital banking in UAE launched as it continues to provide innovative and effective financial solutions.

The world is in a ‘digital era’. This has been further confirmed by the latest announcement of, the UAE’s first independent digital bank, ‘Zand’.

In a recent statement by Mohamed Alabbar, the Chairman of Zand, he stated: “As the first fully independent digital bank in the country, with a full UAE banking license, Zand will provide innovative, effective financial solutions that help simplify businesses and lives, addressing the needs of both retail and corporate customers.”

In 2016 UK’s Monzo card was praised for its innovativeness to eliminate the traditional requirement of ‘branch banking’, Monzo allows its customers to split bills, earn while saving through ‘savings pots’, and budget tracking.

The UAE’s Zand will be “unique in focusing on ecosystems and communities of businesses and individuals, enabling it to introduce unique products and services not traditionally available,”, it will be the “first in the world” to offer both retail and corporate banking services.

In his statement Mohammed Alabbar praised the UAE in its “progressive regulations with commercial, financial, and technology hubs.” Zand will lead the UAE’s banking systems into the next generation.

You might also like...
Emiratisation Penalty upto AED 72,000/- Will Take Effect from 1 Jan 2023
Starting from 1 January 2023, private sector companies with 50 employees or more that have not raised Emiratisation targets by 2% of skilled jobs in 2022, will be fined according to the Ministry of Human Resources and Emiratisation (MoHRE).
read More
FTA Sets Deadline 31 December 2022 to Apply for Re-determination of Administrative Penalties on Taxes
The UAE's Federal Tax Authority (FTA) urged eligible registered taxpayers to apply for the re-determination of administrative penalties on taxes prior to the 31 December 2023 deadline.
read More
Facilities for Small Projects Subject to Corporate Tax
The Ministry of Finance revealed its intention to offer facilities for small projects subject to corporate and business tax, noting that details of these facilities will be announced during the first half of next year.
read More
Thanks, got it!
Something went wrong, please try again.

Use our online calendar to set up your own appointment and connect to an elawyer for a consultation.