Zand, DWTC free zone team up to streamline digital banking

By Parth Prabhudesai

Zand has partnered with Dubai World Trade Centre Free Zone to provide AI-powered digital banking services for companies operating within the DWTC Free Zone ecosystem.

The partnership aims to simplify banking and financial operations for businesses registered in the free zone by offering faster onboarding, streamlined account management, and digitally enabled banking services through Zand’s technology platform.

The collaboration is expected to support both startups and established enterprises by reducing operational friction and improving access to modern banking infrastructure. Companies within the free zone will gain access to automated financial services designed to improve efficiency and accelerate business setup processes.

The initiative also aligns with Dubai’s D33 Economic Agenda, which aims to strengthen the emirate’s digital economy and position Dubai among the world’s top three economic cities by 2033.

Michael Chan, CEO of Zand, said the partnership reflects the bank’s focus on driving digital transformation through AI and blockchain technology.

“By fusing Zand’s innovative solutions with Dubai’s visionary landscape, we are empowering businesses to scale seamlessly and driving the digital transformation necessary to cement Dubai’s global standing,” he said.

Abdalla Al Banna, Vice President of Free Zone Regulatory Operations at DWTC Free Zone, said the collaboration would strengthen the ecosystem available to companies operating within the zone.

“Our partnership with Zand enhances the ecosystem available to companies within our free zone by providing access to digitally enabled banking solutions that support business growth and ease of operations,” he said.

Zand is licensed by the Central Bank of the United Arab Emirates and positions itself as a bridge between traditional finance and decentralised finance. The bank also holds a BBB+ investment-grade rating from Fitch Ratings.

Launched in 2015, DWTC Free Zone hosts more than 2,500 companies across over 40 sectors and operates from Dubai’s One Central commercial district.