HH Sheikh Mohammed appoints two members on Dubai Bank Board

The appointees, Mr. Saeed Al Tayer, General Manager of Dubai Electricity and Water Authority (DEWA) and Mr. Ghaith Al Ghaith, Director, Commercial Operations, Emirates airline will assume responsibilities with immediate effect.

The new members will join the Chairman of Dubai Bank, His Highness Sheikh Hamdan bin Mohammed Al Maktoum and other distinguished members of the Board of Directors; Mohamed Ali Alabbar and Mohammed Shaibani.

Commenting on the appointments, His Highness Sheikh Hamdan bin Mohammed Al Maktoum, Chairman of Dubai Bank said: "Dubai is fast achieving its objective of becoming the leading financial hub in the region and looks toward forward-thinking individuals to further drive this growth. Dubai Bank is keen to be at the forefront of this banking revolution and we recognise the role of exemplary leadership in building equity for the organisation."

Mr. Mohamed Ali Alabbar, Chairman of EMAAR Properties, the parent holding company of Dubai Bank, said: "Both Saeed Al Tayer and Ghaith Al Ghaith are well known to be successful in their leadership roles in DEWA and Emirates and have proven track records. Their distinguished backgrounds and collective wealth of experience will help in further driving the success of Dubai Bank and to reinforcing its reputation as an institution of high calibre."

Since its launch in September 2002, Dubai Bank has been a catalyst of change for the industry. It has introduced a range of innovative products and services, which includes checking and savings accounts, a Twin Account (which combines checking and savings options in one), a Value Account (which offers preferential rates on high balances) and a Call Account (which invests idle funds that can be withdrawn at short notice) and its trademark paperless banking account opening facility, where customers can open an account, receive an ATM card and cheque book in just 20 minutes.

The bank also has a suite of loan products, doorstep banking and valet parking, Royal banking facilities, Children's Plan and a credit card which boasts several 'first ever' benefits that have until now been unavailable to UAE cardholders.

Dubai Bank also recently established its first branch office in Abu Dhabi, paving the way for further expansion in the UAE. In a move to provide a rich portfolio of innovative corporate services, the bank's Corporate & Institutional Banking division has also been established and is well into building a high quality corporate client base.