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Even though archeologists can safely say that Dubai
aria was inhabited for at least 2000 years, the first records of Dubai town date
from the 18th century. In that period Dubai was a fishing village, dependent of
the settlement of
Abu Dhabi.
The growth of Dubai started in the 1830s, when
Bani Yas tribe took over the town
and established Dubai as an independent emirate.
In 19th century, Dubai signed a several truces with Britain, and in 1892 came
under the protection of United Kingdom by signing the Exclusive Agreement.
Dubai’s position on the route to India, and a smart trade-commercial policy of
its rulers soon made this town an important harbor. Soon after, many foreigners
settled in the city (mainly from
India,
Persia and
Great Britain) and by the
1930s made one 1/4 of Dubai’s residents.
Drop in trade in the World War II and decline of pearl export in the 1930s
seriously affected Dubai’s economy, but it managed to recover by making profit
from favorable conditions of trade with and India and Persia.
In the1960s oil was discovered near Dubai, and soon production and export of oil
started.
In 1971 the Great Britain protectorate ended, and Dubai, together with six other
emirates, formed the
UAE (United Arab Emirates). In 1973, all emirates adopted
uniform currency-
UAE dirham.
