Rabitabank makes a statement on the information spread on some media

 Rabitabank makes a statement on the information spread on some media
# 15 March 2013 10:51 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Azerbaijan’s Rabitabank OJSC made a statement regarding the information on illegal acts of its employee recently spread on some media.

According to APA-Economics, the statement reads that the mentioned person has indeed appealed the bank in February of 2007 for flat purchase and the bank gave him mortgage loan at amount of AZN 42,500. Under the customer’s offer, flat #29 in building #106 on Mahammad Hadi street, Khatayi district, Baku city, owned by his father Sabir Nuru Guliyev was registered in favor of the bank by mortgage paper. At present time, the payments on this loan are carried out fully and in time. On July 15, 2009, the customer has again appealed the bank for the next loan at amount of AZN 45,000 to reconstruct the flat. Though the customer has paid main loan part from AZN 45,000 and AZN 33,884 from interest debt, he didn’t fulfilled other part of obligations on loan agreement in time, and therefore, the bank appealed the court for deducting the debt under judicial decision. Under resolution of Khatayi district court on December 30, 2011, it was decided to deduct AZN 25,162 from the customer in favor of Rabitabank. The resolution got its legal force and has been sent to relevant executive office for fulfillment.

The statement also notes that Rabitabank is being managed by high-skilled managers now and the bank has multiyear practice on application of high corporate management standards. Successful collaboration with the international financial structures is an obvious indicator of Rabitabank’s transparency and its correspondence with the international standards. According to the results of research conducted in 2010 by Standard & Poor’s agency, Rabitabank was entered the top 5 of the most transparent banks of Azerbaijan. And in 2012, Rabitabank took the first place in the Azerbaijan-based banks ranking for transparency, developed by Ekonomist magazine.

Leadership of Rabitabank stresses that the bank appreciates confidence of the state and citizens, it operates in correspondence with the modern professional banking standards: ‘During 20-years activity, Rabitabank has always protected the interests of the state, obeyed the laws and will continue to do it in future, too’.

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