Dubai Bank, the fully owned banking subsidiary of real estate major EMAAR Properties, was formally launched this week. The new bank, capitalized at 300 million Emirati dirhams ($81.67 million), commenced commercial operations, offering a range of banking products and services.
At the heart of the bank's new Information Technology (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 a company press release.
Dubai Bank will be involved in all aspects of the banking business and offer products and services for both individual consumers and corporations through a number of different delivery vehicles, including traditional branches and remote banking facilities such as the Internet, the release stated. — (menareport.com)
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