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.
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.