Question 1

What is Rabitabank?

Accepted Answer

Rabitabank is a universal commercial bank operating in Azerbaijan. Established as an Open Joint Stock Company, the bank provides comprehensive financial services to both corporate and retail customers across various economic sectors including trade, construction, agriculture, transport, and communications. With over 400,000 customers, Rabitabank maintains one of the largest banking networks in the country and holds a general banking license issued by the Central Bank of the Republic of Azerbaijan (CBAR).

The bank is a member of the state deposit insurance system in Azerbaijan and operates with License No. 136.

Question 2

When was Rabitabank founded?

Accepted Answer

Rabitabank was founded on June 30, 1993, receiving its banking license from the Central Bank of the Azerbaijani Republic. The bank was established during a period of economic transformation following Azerbaijan's independence, with the original purpose of providing banking services to emerging businesses and individuals.

In 1994, Rabitabank joined the Azerbaijan Banks Association and the Baku Interbank Currency Exchange, significantly expanding its financial capabilities. The first branch, Yasamal, opened in the same year.

Over its 30+ year history, Rabitabank has evolved from a startup institution into one of Azerbaijan's largest universal banks, expanding its scope to cover diverse economic fields.

Question 3

Where is Rabitabank headquartered?

Accepted Answer

Rabitabank's registered office is located at 28 May Street 33, AZ1010, Baku, Azerbaijan. The bank's headquarters serves as the central hub for its operations across the Republic of Azerbaijan.

Question 4

Where does Rabitabank operate?

Accepted Answer

Rabitabank operates throughout the Republic of Azerbaijan with an extensive network of 27 branches and divisions as of 2023. The bank maintains a presence in 16 regions across the country, including major cities and districts such as Sumgayit, Guba, Gusar, Khachmaz, Lankaran, Ganja, Shamkir, Shirvan, Shaki, Nakhchivan, Shamakhi, Kurdamir, Aghsu, Masalli, and Aghjabadi.

The bank's distribution network is supported by 75 ATMs strategically located across these regions to ensure convenient access for customers throughout Azerbaijan.

Question 5

What services does Rabitabank offer?

Accepted Answer

Rabitabank provides a comprehensive range of banking services for both individual and corporate clients:

Retail Banking: Deposit accounts with tax-free and insured options, cash loans with up to 36-month terms, installment cards with credit amounts up to 30,000 AZN, mortgage financing, debit and credit cards, and safe deposit boxes.

Corporate Banking: Settlement and cash services, commercial lending, guarantees and letters of credit, trade finance solutions, and dedicated relationship management for businesses across various sectors.

Digital Services: The Rabita Mobile app enables over 700 types of online payments with features including card-to-card transfers, bill splitting, VAT refunds, and parking payments. RabitaBot, Azerbaijan's first financial chatbot, operates through Messenger and Telegram for fund transfers, utility payments, and card/loan applications. The bank also offers Electron Banking for internet banking and Mobil POS services powered by tapXphone technology.

Card Services: The flagship Kartmane card product line includes debit, credit, and premium cards with free interbank transfers and ATM withdrawals at partner locations. Rabita Junior cards promote financial literacy for children with parental spending monitoring.

Money Transfer Services: Integration with Western Union, Golden Crown (Zolotaya Korona), and Contact money transfer systems.

Question 6

What makes Rabitabank unique?

Accepted Answer

Rabitabank distinguishes itself through several innovative features and achievements:

Digital Innovation Leadership: The bank introduced RabitaBot, Azerbaijan's first financial chatbot, and was an early adopter of tapXphone technology for mobile POS terminals, allowing businesses to accept contactless payments using smartphones without traditional POS equipment.

Award-Winning Products: The Kartmane card was recognized as "Banking Product of the Year" at the Azeri Business Award by Business Time magazine. The bank also won first place among 17 teams in the international Visa Global Challenge competition and received two gold awards at the Kiev International Advertising Festival (KIAF).

Strategic Partnerships: Rabitabank was recognized as "Leading Partner Bank in Azerbaijan" at the Trade and Supply Chain Awards 2024 organized by the Asian Development Bank. The bank has maintained principal membership in major international payment systems including SWIFT (since 1997), Europay International/MasterCard (since 1998), and VISA International (since 2007).

Network Scale: Operating one of the largest banking networks in Azerbaijan with presence across 16 regions, the bank serves more than 400,000 customers and participates in government social programs.

Question 7

What type of financial institution is Rabitabank?

Accepted Answer

Rabitabank is a universal bank operating as an Open Joint Stock Company (OJSC) in Azerbaijan. As a universal bank, it provides the full spectrum of financial services to all customer segments, combining retail banking, commercial banking, and investment services under one institution.

The bank holds a general banking license from the Central Bank of the Republic of Azerbaijan and also possesses a brokerage license (No. 62) issued by the State Committee for Securities under the President of the Republic of Azerbaijan. This licensing structure allows Rabitabank to conduct comprehensive banking operations and securities trading activities.

The bank is ultimately owned by a group of shareholders including Mr. Rauf Aliyev (40.60%), Ms. Valida Abasova (20.13%), Mr. Zakir Nuriyev, Ms. Dilara Nuriyeva, Mr. Seyran Nuriyev (14.51%), and Mr. Aslan Khasiyev, who exercise joint control over the institution.

Question 8

What is Rabitabank's subsidiary structure?

Accepted Answer

Rabitabank operates as a banking group with a principal subsidiary, "Capital Partners" OJSC, which is wholly owned (100%) by the bank and operates as an investment company in Azerbaijan. This subsidiary structure is included in the bank's consolidated financial statements and supports the bank's investment and capital markets activities.

The group structure allows Rabitabank to offer expanded financial services while maintaining specialized focus through its subsidiary operations.

Question 9

What international memberships does Rabitabank hold?

Accepted Answer

Rabitabank maintains strategic memberships in numerous international financial organizations and payment systems:

Payment Systems: SWIFT (principal member since 1997), Europay International/MasterCard (principal member since 1998), VISA International Payment System (principal member since 2007), Western Union (principal member since 2002), Contact Money Transfer System (principal member since 2008).

Financial Institutions: Member of the Baku Interbank Currency Exchange, Azerbaijan Banks Association, Azerbaijan Deposit Insurance Fund, National Fund for Entrepreneurship Support of the Republic of Azerbaijan, and ADFIMI (Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank).

These memberships enable Rabitabank to provide international payment capabilities, correspondent banking relationships, and access to global financial networks for its customers.

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About Rabitabank in Azerbaijan