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