Rabitabank has signed a USD 10 million line of trade financing agreement with the Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group. The agreement was finalized during the Private Sector Forum, held as part of the 51st Annual Meetings of the IsDB Group in Baku from June 16 to 19, under the patronage of Azerbaijani President Ilham Aliyev.
Financing to Support SMEs and Alternative Solutions
The new financing facility is designed to support trade operations in Azerbaijan's real sector, particularly among small and medium-sized enterprises (SMEs). It will also expand access to working capital and contribute to the development of alternative financing solutions in the country.
During a panel discussion titled "Boosting Trade Solutions for Regional Connectivity," Aydin Huseynov, Chairman of the Management Board of Rabitabank, shared insights on Islamic finance development in Azerbaijan. He highlighted the opportunities created by alternative trade finance instruments and the key challenges facing the sector.
Building on Existing Cooperation with IsDB
Huseynov noted that Rabitabank began its cooperation with the IsDB Group in 2023, when it signed its first USD 10 million agreement with the ITFC. This was followed by a Line of Finance Agreement with the Islamic Corporation for the Development of the Private Sector in 2024. These partnerships have allowed Rabitabank to gain valuable experience in developing and introducing Islamic finance products to the Azerbaijani market.
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 all businesses. He highlighted its potential in expanding SMEs' access to financial resources, attracting new international sources of capital, and facilitating cross-border trade.
Digital Innovation and Product Launch
Huseynov also underlined the important role of the Central Bank of Azerbaijan’s Digital Regulatory Sandbox in fostering innovation within the financial sector. Through this platform, Rabitabank launched its Murabaha and Mudaraba products in February 2025. Today, Rabitabank is the first and only bank in Azerbaijan offering both Murabaha and Mudaraba products simultaneously.
Rabitabank's Commitment to International Partnerships
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. Its charter capital stands at 101.3 million Azerbaijani Manat (approximately USD 59.6 million).
Extensive Network and Shareholders
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 centers, providing a full range of banking services in line with modern international standards. The bank’s principal shareholders are Zakir Nuriyev, president of the Azerbaijan Banks Association, and entrepreneur Rauf Zeynal Aliyev, son of businessman Zeynal Hajimammad Aliyev.
