Commercial Bank of Dubai is one of the main banks of the Emirate that deals with commercial banking as its priority but also deals with retail and wealth management possibilities. Only a specific clientele can be the account holder at Commercial Bank, which because of this manages to keep a high profile status among the banks of Dubai.
Commercial Bank of Dubai was established in 1969 as a result of a joint venture between the German Commerzbank the Chase Manhattan Bank and the Commercial Bank of Kuwait. Some stake although minority, was held by the Dubai business investors. In 1982, the Commercial Bank of Dubai has become a National Public Shareholding company thanks to the amounts it has raised by which it would buy out the stakes and earn the main stake in the ownership. From this time, the main owner and shareholder became none other but the Sheikh or ruler of Dubai, Al Maktoum Sheikh. Commercial Bank of Dubai does its best to keep up with the running times in modernity and in the savings and accounts offered as well as in the methods of banking. Today’s main board of directors is shared by several members among which we can find several names of the strongest business families of Dubai, namely the Al Futtaim and Al Ghurair families. Although being a primarily commercial bank, the Commercial Bank of Dubai didn’t turn its back to retail banking and offers also solutions to individuals with tailored services. Of course, to be an account holder in this bank, you will need to have a quite a high salary for start. The bank plans to widen its services to clients with lower income too, in order to enlarge its base of clients. It is interesting to note that in 2008 Commercial Bank of Dubai was the first ever Dubai bank that has received the Social Accountability (ISO SA8000) certificate for its impeccable services.
Commercial Bank of Dubai offers all the solutions, which other banks do too: accounts, deposits, loans, saving plans, credit and/or debit cards, an affiliate and award points programs for cardholders, money transfer and foreign exchange in its retail arsenal. Among its corporate services, we can find corporate and commercial banking, transaction banking, debt capital market research, treasury and trade services. The bank offers 3 wealth management schemes for the most special and richest clients: the Al Dana, the Al Dana Royal and the Al Dana Platinum. These programs bring a good commission through the banks various investments all around the world.
Among the bank’s services, we can see online, phone and SMS banking and the Commercial Bank of Dubai has branches in mainly every district located mainly within shopping malls. The bank is the member of the local Corporate Social Responsibility Network along with other banks and institutions.
This is how the Commercial Bank of Dubai is one of the business leaders in the Dubai area when it comes to corporate and upper-class banking. For wealthy clients Commercial Bank of Dubai offers several extra and free services.