The Bank Of Mongolia website：https://www.mongolbank.mn/en/

The Bank Of Mongolia website

The Bank Of Mongolia website：https://www.mongolbank.mn/en/

The Bank Of Mongolia
The Central Bank of Mongolia shall be the competent organization authorized to implement State monetary policy within the territory of Mongolia. The Central Bank of Mongolia shall be called the Bank of Mongolia (Mongolbank) and the main objective is to ensure the stability of the national currency – Togrog. The Bank of Mongolia is a legal entity established by the State and shall use the seal, stamp, and official form. Within its main objective the Bank of Mongolia shall also promote balanced and sustained development of the national economy, through maintaining the stability of money, financial markets and the banking system. In order to implement its objectives as set forth in the law of Mongolia on central bank, the Bank of Mongolia shall conduct the following activities:

ISSUING CURRENCIES INTO TRANSACTION
The Bank of Mongolia shall have the exclusive right to ensure proper structure of the currency in circulation through issuing and withdrawing the Mongolian currency.
The Bank of Mongolia shall manage the production, transportation, safekeeping, verification, as well as the disposal and reimbursement of the Mongolian currency.
The Bank of Mongolia shall approve the procedures on reimbursement and disposal of the Mongolian currency. It is prohibited to destroy the currency without the BOM authorization.
/ Article 9 - The Law of Mongolia on Central Bank /

FORMULATION AND IMPLEMENTATION OF MONETARY POLICY BY COORDINATING MONEY SUPPLY IN THE ECONOMY
The Bank of Mongolia shall formulate and implement State monetary policy.
The Bank of Mongolia shall formulate State monetary policy for the next year, and present that policy to the State Ikh Khural by October 1 of each year. The policy shall contain:
an assessment of and conclusions on the monetary supply and financial markets of the economy, including factors and reasons for the assessment and conclusions;
target range for monetary indicators, domestic price level and exchange rate of the togrog in terms of stable foreign currencies and the application of monetary policy instruments."
/ Article 10 - The Law of Mongolia on Central Bank /

ACTING AS THE GOVERNMENT’S FISCAL INTERMEDIARY
When acting as the Government’s fiscal intermediary the Bank of Mongolia may conduct the following operations:

holding the Government’s unified budget account and conducting banking transactions at the request of the Minister of Finance in accordance with an agreement containing the relevant terms;
hold auction on the bond and securities issued by the Government to other entities and purchasing such bonds and securities in accordance with State monetary policy objective and current market conditions;
conducting payment transactions with respect to Government loans from foreign countries and loans by others to legal persons which the Government has guaranteed, within the amount of the balance remaining in the State budget unified account, in accordance with the schedule of payments for such loans;
other intermediary activities in accordance with legislation.
/ Article 17 - The Law of Mongolia on Central Bank /

SUPERVISION THE BANKING ACTIVITIES
For the purpose of protecting the interests of depositors and customers, and strengthen the reliability of the banking system, the Bank of Mongolia shall establish procedures and instructions on decision making, undertake supervision and enforcement activities relating to: the licensing of banks, ensuring the banks own capital and solvency, and other regulation of banking activities.
The relevant laws will be followed on the activities of establishment, authorization, invalidation, restrictions, as well as providing requirements, conducting inspection, and taking compulsory actions for the banks.
/ Article 19 - The Law of Mongolia on Central Bank /

Headquarters:
Baga Toiruu 3, Ulaanbaatar 15160, Mongolia
Phone: 976-11-310081
Fax: 976-11-311471
Email: info@mongolbank.mn