Charter about building the monastery is very valuable document because it contains the first mention of the name of the Croatian island and city of Rab. The monastery is situated on the north side of St.. Euphemia Bay. It was founded in 1444. The church of the monastery is decorated with beautiful altars and images of saints that have high artistic value. A polyptych of brothers Antonio and Bartolomeo Vivarini from the island of Murano in the Venetian lagoon is of particular significance. One part of the monastery was turned into the Ethnographic Museum of the island with gallery of monk Janez Ambroz Testen. The monastery library consists of about 7000 rare books.