"Collapse of the pearling industry."[3] 1934 – British air base established.[3] 1938 – 'Majlis' economic/political "reform movement" occurs.[3] 1939 – Majlis al Tujjar (merchant committee) established.[3] 1941 – Dubai Post Office opened.[8] 1946 - October: Imperial Bank of Persia (to become British Bank of the Middle East, then HSBC) opened in Dubai.[8] 1948 - Abu Dhabi-Dubai border dispute.[9] 1949 15 July: Mohammed bin Rashid Al Maktoum, current ruler of Dubai, born in Shindaga.