Zand, a UAE-regulated, AI and blockchain-powered digital bank, becomes the first bank in the Middle East to receive ISO certification for Information Security Management System (ISO 27001) and Privacy Information Management System (ISO 27701).
In terms of significance, Zand Bank is now the first bank in the MENA region to meet internationally recognized standards for Web3 services, including digital asset custody, smart contract management, and TradFi and DeFi bridging. According to a press release, this achievement reflects Zand's collaboration and continued commitment to implementing and strengthening best practices to protect data and extend security.
Zand Bank is building on this achievement with a strategy to enable next-generation innovation
ISO 27001 is the leading international standard for establishing, implementing, maintaining, and continuously improving information security management systems (ISMS). ISO/IEC 27701 is an international standard for privacy information management systems (PIMS) that provides requirements and guidance for the management of personal data.
Both are important tools for cyber resiliency and compliance.
Zand's achievement builds on a previous statement made by the company's CEO Michael Chan: “Zand AED is more than just a stablecoin. It is the UAE’s bridge between traditional and decentralized finance. It enables the next generation of payments, tokenization and digital asset innovation, all built on trust, transparency and regulatory clarity.”
These certifications reinforce this statement.
Marwan Al-Zarrouni, CEO of AI at Dubai Department of Economy and Tourism, praised the Zand team in a post on LinkedIn, saying, “Achieving ISO 27001 and ISO 27701 highlights the team's uncompromising commitment to information security and privacy in digital asset custody and smart contract services.”
Zand aims to seamlessly integrate crypto and fiat currencies
Earlier this year, Zand and CoinMENA FZE, a UAE cryptocurrency broker recently acquired by Turkey's Paribu, joined forces to provide seamless and secure fiat-to-crypto integration for CoinMENA FZE's clients across the region.
Clients can efficiently transfer funds between their Zand bank account and CoinMENA FZE wallet. Zand’s AI and blockchain infrastructure will ensure efficient banking services for CoinMENA FZE users, ensuring secure and seamless conversion between fiat currencies and cryptocurrencies, including stablecoins.
Zand Bank has already become the digital bank of choice for UAE-regulated crypto exchanges, thanks to its onslaught of incorporating AI, blockchain, and digital assets.
Zand Bank is owned by a consortium of investors, with major stakes held by Al Khail Holding, Emirates NBD, Franklin Templeton and Yousaf Ali (founder of Lulu Group), under the direction of Chairman Mohamed Alabbar. Other major backers include Aditya Birla Group and Al Sayyah & Sons Investments.
