In Rabitabank OJSC rotation occurs - the decision of the general meeting of shareholders of the bank appointed Chairman Elchin Gadimov, who since 2006 held the position of deputy chairman of the bank.
According to the report of the financial structure, he replaced Nikoloz Shurgaya who departed in early October because of the expiration of the contract. Last 3 weeks Gadimov was the Acting Chairman.
According to the development plan of the bank for 2013-2017, the bank plans to the end of 2014 to increase its loan portfolio to 175.65 million and by the end of 2017 - up to 345.72 million manat. The assets of the bank are expected to be 253 650 000 and 505 680 000 manat respectively.
Rabitabank operates on the banking market since 1993. Its shareholders are the 13 legal and 5 individuals. The main share (99.48%) belongs to individuals (Zakir Nuriyev - 25.56%, Aslan Khasiev - 24.77%, Seyran Nuriyev - 23.58%, Dilara Nuriyeva - 13.48%, Yashar Gurbanov - 12 09%.
On the territory of the country operate 22 branches of the bank. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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