Zand, a UAE-based AI-powered fintech and financial services group, has been awarded an investment grade credit rating of BBB+ by Fitch Ratings, accompanied by a stable outlook.
Michael Chan, CEO of Zand, expressed pride in the achievement, noting that Zand is likely the world’s youngest bank to earn such a rating.
Since receiving its full banking license three years ago, the start-up has demonstrated rapid growth and financial resilience, reaching breakeven in under two years.
Chan highlighted Zand’s role in supporting virtual asset service providers and fintech companies in the UAE, emphasizing the group’s commitment to empowering clients amid the ongoing digital transformation.
He described the Fitch rating as a strong validation of Zand’s strategic direction, the strength of its team and shareholders, and the UAE’s favorable regulatory framework.
This new development sheds light on Zand’s growing influence in the region’s evolving financial landscape and signals confidence from global credit rating agencies in its sustainable growth prospects.
