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.
