Kumar Mangalam Birla to invest in UAE’s digibank ‘Zand’
- Kumar Mangalam Birla, the Chairman of Aditya Birla Group, is set to invest in Zand, the first digital only independent bank in UAE.
- For this investment, Birla will partner with Hamed bin Zayed Al Nahyan, the Managing Director of Abu Dhabi Investment Authority (ADIA).
- Initial investment is projected between $50-$100 million, which is expected to be made from Birla’s private family office.
- Birla is the first Indian to make an invest in the banking system of UAE.
Points to Remember:
- Which Indian will invest in UAE’s first digital only independent bank Zand?
- Name of UAE’s first digital only independent bank? Zand
Source: Economic Times