Dubai
Bank
Dubai
Bank was launched on 23 Sep 2002, by its Chairman
Sheikh Hamdan bin Mohammed Al Maktoum, at a function
also attended by Mohammed Ali Alabbar, chairman
of Emaar Properties, and Ahmed bin Brek, the chief
executive of the bank.
The
bank is a resurrection of an old bank called the
Emirates Al Ahli Bank Ltd, which was established
under a decree issued in April 1977 by the Late
Sheikh Rashid bin Saeed Al Maktoum. The bank, capitalised
at Dh300 million, is a fully-owned banking subsidiary
of the real estate major Emaar Properties.
At
the heart of he bank's new IT-driven service offerings
is the introduction of paperless account opening
for the bank's customers and instant fulfillment
of key banking services. According to the Ministry
of Economy and Commerce, the new bank will be based
in Dubai city but is authorised to open branches
in other emirates or outside the UAE.
One
of the service which Dubai Bank offers is The Children's
Plan Investment.
