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.
