Banking Sector
The Central Bank formally commenced its functions on 11 December 1980 in pursuance of the provision of Union Law.
40 years ago, Dubai was simply a trading post at the mouth of the creek, without electricity, piped water or paved roads. As the finest natural creek in the Gulf, its trading history could be traced back almost 600 years. The first bank in the UAE is The National Bank Of Dubai. Moreover National Bank of Dubai was established in 1963 with one branch on the other side of the creek. The bank has made a lot of success in 1970, so a new bank opened beside the creek by His Highness Sheikh Rashid. Over the years, this prudent approach has proved to be successful for both shareholders and customers alike. Soon after the head quarters opened, Dubai joined forces with the other emirates and was near to be one of the world`s most vibrant cities. The philosophy of the Bank has always been to protect valuable traditions whilst embracing the best contemporary business practices. This spirit has been the inspiration behind the design and layout of the new creek side Headquarters building.
