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.
