Originally a small fishing settlement, Dubai was taken over in the 18th century by a branch of the Bani Yas tribe led by the Maktoum family who still rule the emirate today. At that time the usual modes of attaining sustenance were herding sheep and goats, cultivating dates, fishing and pearling. However, the liberal attitude of the rulers made the emirate attractive to traders from India and Iran. In 1971, joining together with Abu Dhabi, Sharjah, Ajman, Umm Al Quwain, Fujairah and (in 1972) Ras Al Khaimah formed the federation of the United Arab Emirates.

Discovery of oil in the 1960