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Government pockets Dubai Bank The Dubai government last month took full control of Dubai Bank, an Islamic lender that was 70 percent owned by the emirate’s Dubai Holding and 30 percent owned by real estate developer Emaar Properties. The bank’s latest annual report showed a loss of $79 million in 2009 after nearly tripling its impairment losses to $148 million from exposure to Dubai Holding and the real estate sector.  “The intervention is designed to ensure that Dubai Bank’s business continues uninterrupted while options for the bank’s future, whether to be run on a stand-alone basis or potentially merged with another bank in which the government has ownership, are being assessed,” a Dubai government statement said. The government’s plans for the bank, which include a capital injection that will effectively dilute both shareholders, dispelled fears among investors nervous about a potential bank failure and sent positive shockwaves across markets. According