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.
