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.
