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.
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.
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.
of the service which Dubai Bank offers is The Children's