Kauthar bank is one of the first commersial banks in Azerbaijan, previously named "Universal Bank". It is the first bank in Azerbaijan and the second bank in CIS countries that works according to the Islam banking system. Kauthar bank has two branches in Barda and Baku. Kauthar Bank offers individuals a complete range of services and additional options for cash and set tlement transactions:
- March 10, 2001 - the new regulation of the bank was affirmed at the stockholders meeting.
- September 24, 2001 - the bank was registered under the name of the Kauthar bank in the Ministry of Justice.
- October 21, 2002 - the National bank gave the bank the licence number 02-10/381 for all kinds of bank activity.