Dubai Bank

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Dubai Bank
Type Public
Founded 2002
Headquarters Dubai, UAE
Key people Fadel Al Ali, Chairman
Salaam Al Shaksy, CEO
Industry Islamic Banking and Finance
Website 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.

The bank has increased it's 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.

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'.

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