<p>The Aditya Birla Group has invested an undisclosed amount in Zand, an upcoming digital bank in the United Arab Emirates (UAE).</p>.<p>The $45-billion diversified conglomerate joins other investors like Franklin Templeton, Al Hail Holding LLC, Al Sayyah and Sons Investments LLC, Global Development Group, Mohamed Alabbar, Olivier Crespin, and Yusuff Ali M A as shareholders in the bank.</p>.<p>The Aditya Birla Group, whose interests in financial services include running a non-bank finance company and asset management firm, had unsuccessfully applied for getting a licence for a universal bank in 2013 during the last round of allotments.</p>.<p>In a statement on Tuesday, Zand said its launch is imminent and the entity will be the first digital bank to provide both retail and corporate services.</p>.<p>"We have a strong group of shareholders who believe in creating long-term value for our customers. With their support, Zand is set to reshape the future of banking," Zand's Chairman Mohamed Alabbar said.</p>.<p>The statement said the Aditya Birla Group brings unmatched global operating experience across diverse sectors and markets spanning 36 countries, and a formidable financial services experience with funds under management of $57 billion.</p>.<p>Crespin, who has an experience of over two decades, will be the co-founder and chief executive of Zand and is seeking to deploy 'hybrid digital strategies' to build the lender.</p>.<p><strong>Check out latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>
<p>The Aditya Birla Group has invested an undisclosed amount in Zand, an upcoming digital bank in the United Arab Emirates (UAE).</p>.<p>The $45-billion diversified conglomerate joins other investors like Franklin Templeton, Al Hail Holding LLC, Al Sayyah and Sons Investments LLC, Global Development Group, Mohamed Alabbar, Olivier Crespin, and Yusuff Ali M A as shareholders in the bank.</p>.<p>The Aditya Birla Group, whose interests in financial services include running a non-bank finance company and asset management firm, had unsuccessfully applied for getting a licence for a universal bank in 2013 during the last round of allotments.</p>.<p>In a statement on Tuesday, Zand said its launch is imminent and the entity will be the first digital bank to provide both retail and corporate services.</p>.<p>"We have a strong group of shareholders who believe in creating long-term value for our customers. With their support, Zand is set to reshape the future of banking," Zand's Chairman Mohamed Alabbar said.</p>.<p>The statement said the Aditya Birla Group brings unmatched global operating experience across diverse sectors and markets spanning 36 countries, and a formidable financial services experience with funds under management of $57 billion.</p>.<p>Crespin, who has an experience of over two decades, will be the co-founder and chief executive of Zand and is seeking to deploy 'hybrid digital strategies' to build the lender.</p>.<p><strong>Check out latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>