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