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{{Short description|Islamic bank in Dubai}}
{{for|the Kenyan bank|Dubai Bank Kenya}}
{{for|the Kenyan bank|Dubai Bank Kenya}}
{{Primary sources|date=August 2010}}
{{More citations needed|date=May 2024}}
{{Use dmy dates|date=November 2021}}

{{Infobox company|
{{Infobox company
company_logo = [[File:Dubai Bank logo.png]]|
| logo = Dubai Bank logo.png
company_name = Dubai Bank |
| name = Dubai Bank
company_type = [[Public company|Public]]|
| type = [[Public company|Public]]
⚫
| foundation = September 2002
company_slogan = "Putting the First Into Banking!"|
| defunct = 1 December 2012
⚫
foundation = 2002|
location = [[Dubai]], [[UAE]]|
| location = [[Dubai]], [[UAE]]
⚫
| industry = [[Islamic banking]] and finance
key_people = [[Mohammed Hadi Ahmed Al Hussaini]], Chairman<br />[[Jamal Saeed Bin Ghalaita]], CEO |
| fate = Acquired by [[Emirates NBD]]
⚫
industry = [[Islamic banking]] and finance |
homepage = [https://www.dubaibank.ae www.dubaibank.ae]
| homepage = [https://www.dubaibank.ae www.dubaibank.ae]
}}
}}
'''Dubai Bank''' is an Islamic bank based in [[Dubai]], [[UAE]]. Launched in September 2002, the Bank became a [[Shari’a]]-compliant financial institution with a focus on the [[UAE]]’s Islamic banking sector on January 1, 2007. Dubai Bank is part of the [[Dubai Group]], a [[Dubai Holdings]] company.
'''Dubai Bank''' was an [[Islamic bank]] based in [[Dubai]], [[UAE]]. The bank was launched in September 2002 and transformed into [[Shari’a]]-compliant financial institution with on 1 January 2007. Dubai Bank was part of the [[Dubai Group]], a [[Dubai Holdings]] company. On 1 December 2012 the bank was acquired by [[Emirates NBD]].<ref>{{cite web|title=Dubai Bank PJSC: Private Company Information – Businessweek|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=21823205|date=2012-11-30|publisher=Bloomberg L.P.|accessdate=2016-04-22}}</ref><ref>{{Cite web |last=Hunter |first=Gregor Stuart |date=2011-10-11 |title=Emirates NBD to takeover Dubai Bank |url=https://www.thenationalnews.com/business/emirates-nbd-to-takeover-dubai-bank-1.479803 |access-date=2022-11-17 |website=The National |language=en}}</ref><ref>{{Cite web |title=Dubai's Emirates NBD seals biggest acquisition with purchase of Turkish lender Denizbank |url=https://www.arabnews.com/node/1307376/amp |access-date=2022-11-17 |website=Arab News |language=en}}</ref>


== History ==
The bank increased its capital to AED 1.50 Billion in 2007 and is on an expansion spree, and as of March 2008 has total assets of AED 14.4 billion. The bank as of the end of 2007 has 15 branches spread across UAE and has more aggressive plans in 2008 including opening another 10 branches.
The bank increased its capital to AED 1.50 Billion in 2007 and was on an expansion spree, and {{as of|2008|March|lc=y}} had total assets of AED 14.4 billion. The bank as of the end of 2007 had 15 branches spread across UAE and had more aggressive plans in 2008 including opening another 10 branches.<ref>{{Cite web |title=HUBB {{!}} Dubai Bank - About Company |url=https://hubbae.ae/en/services/company/view/147194/ |access-date=2024-09-04 |website=hubbae.ae |language=en}}</ref>


As per the pre orders from the Ruler of Dubai on 11 October 2011, [[Emirates NBD]] was set to take over Dubai Bank. There were no financial details available.<ref>{{cite web|url=http://gulfnews.com/business/banking/emirates-nbd-takes-over-dubai-bank-1.889634 |title=Emirates NBD takes over Dubai Bank |publisher=GulfNews.com |date=2011-10-11 |accessdate=2016-04-22}}</ref>
Fitch Ratings has recently assigned Dubai Bank Long-term Issuer Default rating (IDR) 'A' with a Stable Outlook, Short-term IDR 'F1', Support rating '1' and Support Rating Floor 'A'.


==References==
News came on 11th October 2011 states that EmiratesNBD is all set to take over Dubai Bank as per orders from the Ruler of Dubai. Financial details are not available yet. http://gulfnews.com/business/banking/emirates-nbd-takes-over-dubai-bank-1.889634
<references/>


==External links==
==External links==
*[https://www.dubaibank.ae www.dubaibank.ae – Official website]
*[https://web.archive.org/web/20120501193912/https://www.dubaibank.ae/ www.dubaibank.ae – Official website]
{{Portal|Banks}}
*[http://guide.theemiratesnetwork.com/living/dubai/banks_in_dubai.php Banks in Dubai] – TEN Guide


{{Dubai Holding}}


[[Category:Banks of the United Arab Emirates]]
[[Category:Defunct banks of the United Arab Emirates]]
[[Category:Banks established in 2002]]
[[Category:Banks established in 2002]]
[[Category:Banks disestablished in 2012]]
[[Category:Companies based in Dubai]]
[[Category:Companies based in Dubai]]
[[Category:Emirati companies established in 2002]]




{{UAE-stub}}
{{UnitedArabEmirates-stub}}
{{Asia-bank-stub}}
{{Asia-bank-stub}}

Latest revision as of 16:25, 4 September 2024

For the Kenyan bank, see Dubai Bank Kenya.

Dubai Bank
Company typePublic
IndustryIslamic banking and finance
FoundedSeptember 2002
Defunct1 December 2012
FateAcquired by Emirates NBD
HeadquartersDubai, UAE
Websitewww.dubaibank.ae

Dubai Bank was an Islamic bank based in Dubai, UAE. The bank was launched in September 2002 and transformed into Shari’a-compliant financial institution with on 1 January 2007. Dubai Bank was part of the Dubai Group, a Dubai Holdings company. On 1 December 2012 the bank was acquired by Emirates NBD.[1][2][3]

History

[edit]

The bank increased its capital to AED 1.50 Billion in 2007 and was on an expansion spree, and as of March 2008 had total assets of AED 14.4 billion. The bank as of the end of 2007 had 15 branches spread across UAE and had more aggressive plans in 2008 including opening another 10 branches.[4]

As per the pre orders from the Ruler of Dubai on 11 October 2011, Emirates NBD was set to take over Dubai Bank. There were no financial details available.[5]

References

[edit]
  1. ^ "Dubai Bank PJSC: Private Company Information – Businessweek". Bloomberg L.P. 30 November 2012. Retrieved 22 April 2016.
  2. ^ Hunter, Gregor Stuart (11 October 2011). "Emirates NBD to takeover Dubai Bank". The National. Retrieved 17 November 2022.
  3. ^ "Dubai's Emirates NBD seals biggest acquisition with purchase of Turkish lender Denizbank". Arab News. Retrieved 17 November 2022.
  4. ^ "HUBB | Dubai Bank - About Company". hubbae.ae. Retrieved 4 September 2024.
  5. ^ "Emirates NBD takes over Dubai Bank". GulfNews.com. 11 October 2011. Retrieved 22 April 2016.
[edit]


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