Abu Dhabi-based International Holding Company said on ​Friday it ⁠plans to launch Judan Financial Holding, ‌a new AI-enabled international financial services holding company expected ​to oversee more than 870 billion AED ($236.88 billion) ​in assets ​under management.

Judan Financial will consolidate financial services assets of IHC, Alpha Dhabi, ⁠2PointZero Group and Sirius International Holding across banking, insurance, asset and wealth management, capital markets, non-bank financial services and financial technology, ​based ‌on their ⁠respective shareholdings ⁠and subject to regulatory approvals where required.

The company ​is expected to have ‌a valuation of around ⁠100 billion dirhams and oversee more than 20 operating financial services companies across over 13 countries, serving more than 11 million clients.

Judan Financial will be chaired by Sheikh Tahnoon bin Zayed Al Nahyan, with Mohamed Hassan Alsuwaidi serving ‌as vice chairman, managing director and chief ⁠executive officer, with a mandate ​to scale the platform over the next five years and raise third-party institutional ​capital. ($1 = ‌3.6728 UAE dirham)

(Reporting by Federico ⁠Maccioni; Writing by ​Tala Ramadan; Editing by Louise Heavens)