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.
