“Rabitabank” OJSC has secured USD 7 million in financing via cooperation with world funding corporate “Enabling Qapital”, geared toward increasing get entry to to finance for micro, small and medium-sized enterprises (SMEs).
The power is meant to reinforce the financing wishes of marketers working within the micro and SME section, advertise their sustainable enlargement, and give a contribution to the advance of the actual sector and broader financial process.
Beneath the brand new financing facility, the price range are anticipated to fortify get entry to to credit score for micro and small companies, reinforce their operating capital and funding wishes, and advertise new trade tasks and employment era. The investment may also create further alternatives for trade enlargement, higher manufacturing and repair capability, and the implementation of latest funding tasks. As well as, to reinforce coverage for each the Financial institution and marketers towards foreign currency dangers, the price range might be on-lent to marketers in native foreign money (Azerbaijani manat) throughout the hedging mechanism supplied through the Central Financial institution of Azerbaijan.
Commenting at the settlement, Chairman of the Control Board of Rabitabank, Mr. Aydın Hüseynov, famous that pursuant to the Decree of the President of the Republic of Azerbaijan dated April 21, 2016, April 25 is well known every year as Marketers’ Day in Azerbaijan. He emphasised that the settlement is especially necessary in increasing get entry to to finance for micro, small and medium-sized enterprises, whilst additionally supporting process introduction. He additional highlighted that supporting micro and small companies performs a very important function in fostering inclusive financial enlargement, stimulating trade process around the areas and growing new employment alternatives. On this context, the newly secured investment facility is seen now not simplest as crucial milestone for the Financial institution, but in addition as a strategically important financing settlement contributing to the advance of Azerbaijan’s actual sector as an entire.
The financing facility from Enabling Qapital, a FINMA-regulated, main Swiss affect asset supervisor, additional reinforces Rabitabank’s status as a depended on counterparty for world buyers, whilst underscoring the Financial institution’s dedication to sustainable and accountable finance.
For Rabitabank, the settlement represents some other important step in broadening cooperation with world monetary establishments, mobilizing exterior sources for the actual economic system, and additional supporting entrepreneurship financing.
Based in 1993, Rabitabank OJSC supplies fashionable and out there monetary products and services to its shoppers beneath its “Comfortable Banking” idea. The Financial institution’s constitution capital stands at AZN 101.3 million. Thru its intensive department community, virtual banking answers {and professional} staff, Rabitabank continues to ship value-driven monetary products and services to its shoppers. The Financial institution’s major shareholders are Zakir Nuriyev, President of the Azerbaijan Banks Affiliation, and businessman and entrepreneur Rauf Zeynal Aliyev. He’s the son of well known businessman Zeynal Hajimammad Aliyev.
Lately, “Rabitabank” OJSC supplies a extensive vary of banking products and services to its shoppers in step with the best possible fashionable requirements via a community of 31 provider issues throughout 19 areas and Baku, 78 ATMs, the Rabita Cellular, Rabita Junior and Rabita Industry packages, its Web Banking platform, and the 133 Name Heart.
About Enabling Qapital
Enabling Qapital Ltd. (EQ) is a FINMA-regulated, main Swiss affect asset supervisor devoted to a global the place investments generate monetary, social, environmental, and financial returns.
With over USD 900 million beneath control, Enabling Qapital invests via personal debt and indexed bonds, pursuing methods considering microfinance, get entry to to power /blank cooking in addition to rising marketplace bonds.
The staff is composed of over 65 contributors, talking greater than 21 languages and representing 14 nationalities.
Enabling Qapital is transferring cash to that means.
For more info: Rabitabank OJSC
This text used to be written in cooperation with Rabitabank OJSC
