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Company
Dubai Bank
Dubai Bank was an Islamic financial institution based in Dubai, United Arab Emirates, established in September 2002. The bank transitioned into a fully Shari’a-compliant institution on January 1, 2007, aligning its operations with Islamic banking principles.
It was part of the Dubai Group, a subsidiary of Dubai Holdings, which oversees multiple diversified businesses across various sectors within the UAE. Dubai Bank experienced significant growth during its operational years, increasing its capital to AED 1.5 billion in 2007 and expanding its network to 15 branches across the UAE by the end of that year, with plans to open additional branches in 2008.
Despite its expansion and efforts to capture the Islamic banking market segment, Dubai Bank's operations were short-lived compared to other UAE financial institutions.
On December 1, 2012, Dubai Bank was acquired by Emirates NBD, one of the leading banking groups in the UAE, as part of the consolidation within the country’s banking sector. This acquisition effectively ended Dubai Bank’s independent operations, with its assets and clients integrated into Emirates NBD's wider banking infrastructure.
The merger reflected ongoing trends in the UAE banking industry towards consolidation to improve efficiency, capitalize on economies of scale, and enhance service offerings in a rapidly evolving financial landscape.
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