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.
