Kumar Mangalam Birla to team up with ADIA head to invest in UAE's digital-only bank Zand

Kumar Mangalam Birla is set to partner with Hamed bin Zayed Al Nahyan, the managing director of Abu Dhabi Investment Authority (ADIA), and invest in Zand, a UAE-based digital-only independent bank. Initially, the plan is to deploy USD 50-100 million but the quantum may go up in future as the business scales up.