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.
