VOL. XLV

No 40

7-October-2002

DUBAI

Dubai Bank BeginsOperations

The latest entrant into the UAE banking market, Dubai Bank,has been formally launched and began operations on 22 September. The new bank,capitalized at Dh300mn ($81.7mn) making it of comparable size to smaller banksin the sector such as National Bank of Fujairah and Investbank, aims to compete in an already over-bankedsector by focusing on IT-driven and customer-friendly services. According tothe bank, at the heart of its IT services...