Michael Chan

Biography

Michael Chan (Mick) is Chief Executive Officer of Zand Bank PJSC, the UAE’s AI and blockchain-powered digital bank, licensed in June 2022. Under his leadership, Zand has set new benchmarks in digital finance: the first UAE bank to offer institutional-grade digital asset custody under its banking license; the launch of the country’s first regulated, multi-chain AED-backed stablecoin on public blockchains; and a landmark partnership with the Dubai Land Department to deliver the region’s first tokenized real estate investment project. Zand reached profitability in just 22 months—far ahead of industry norms—and is the youngest bank globally to earn a BBB+ investment-grade rating, becoming the world’s youngest bank to achieve an investment-grade credit rating from Fitch Ratings. In 2025, the bank also became the first in the Middle East to achieve ISO 27001 and ISO 27701 certifications for Web3, further reinforcing its security and governance standards. The bank’s core system migration was completed in under 100 days, and recent honors include Best New Digital Bank UAE 2024 and Platinum for Transformation Excellence 2025 (Innovation Awards). A seasoned international banker and technologist, Michael brings 25+ years across operations, corporate development, digital transformation, and fintech collaboration. Previously Regional COO Asia-Pacific at First Abu Dhabi Bank, and a senior leader at Crédit Agricole CIB.