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AzerNEWS Staff

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A significant new international cooperation agreement has been concluded for Rabitabank during the Private Sector Forum (PSF 2026), organized within the framework of the 51st Annual Meetings of the Islamic Development Bank (IsDB) Group, held in Baku from 16 to 19 June under the patronage of His Excellency Mr. Ilham Aliyev, President of the Republic of Azerbaijan, AzerNEWS reports.

As part of the Forum, Rabitabank signed a USD 10 million line of trade financing Agreement with the Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group. The new financing facility will support the financing of trade operations in Azerbaijan’s real sector, particularly among small and medium-sized enterprises (SMEs), expand access to working capital, and contribute to the development of alternative financing solutions.

Within the Forum’s panel discussion titled “Boosting Trade Solutions for Regional Connectivity,” Mr. Aydin Huseynov, Chairman of the Management Board of Rabitabank, participated as a speaker and shared insights on the development prospects of Islamic finance in Azerbaijan, the opportunities created by alternative trade finance instruments, and the key challenges facing the sector.

During his remarks, Mr. Huseynov noted that Rabitabank began its cooperation with the Islamic Development Bank Group in 2023, when the Bank signed its first USD 10 million agreement with ITFC. This was followed by a Line of Finance Agreement with the Islamic Corporation for the Development of the Private Sector (ICD) in 2024. These partnerships have enabled Rabitabank to gain valuable experience in developing and introducing Islamic finance products to the Azerbaijani market.

Mr. Huseynov emphasized that Islamic finance should not be viewed solely as a financing alternative for entrepreneurs guided by religious considerations, but rather as an effective and competitive financing instrument for businesses of all types. He highlighted its significant potential in expanding SMEs’ access to financial resources, attracting new international sources of capital, and facilitating cross-border trade.

He also underlined the important role of the Central Bank of Azerbaijan’s Digital Regulatory Sandbox in fostering innovation within the financial sector and creating a favorable environment for the introduction of new financial products. Through this platform, Rabitabank launched its Murabaha and Mudaraba products in February 2026. Today, Rabitabank is the first and only bank in Azerbaijan offering both Murabaha and Mudaraba products simultaneously.

Rabitabank continues to expand its cooperation with international financial institutions, contributing to the development of alternative financing solutions, the financing of entrepreneurship, and the enhancement of international trade opportunities for Azerbaijani businesses. As one of the country’s leading commercial banks, Rabitabank provides a comprehensive range of financial services to both retail and corporate clients. Guided by innovation, strategic international partnerships, and sustainable development principles, the Bank remains committed to delivering modern banking solutions that create long-term value for its customers.

Founded in 1993, Rabitabank operates under the concept of “Convenient Banking,” providing modern and accessible financial services to its customers. The Bank’s charter capital stands at AZN 101.3 million. Through its extensive branch network, advanced digital banking solutions, and professional team, Rabitabank continues to deliver customer-centric financial services across Azerbaijan. Rabitabank’s principal shareholders are Mr. Zakir Nuriyev, President of the Azerbaijan Banks Association, and entrepreneur Mr. Rauf Aliyev.

Currently, Rabitabank serves its customers through 31 service outlets across Baku and 19 regions of Azerbaijan, 78 ATMs, the Rabita Mobile, Rabita Junior and Rabita Business applications, Internet Banking services, and its 133 Call Center, providing a full range of banking services in line with modern international standards.