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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:

  1. Issuing currencies into transaction;
  2. Formulation and implementation of monetary policy by coordinating money supply in the economy;
  3. Acting as the Government’s fiscal intermediary;
  4. Supervision the banking activities;
  5. Organization of inter-bank payments and settlements;
  6. Holding and management of the State’s reserves of foreign currencies.

Currently Bank of Mongolia is implementing the state monetary policy and supervising the activities of commercial banks, with a structure of (Governor, First deputy governor, and deputy governor) 10 departments, 1 center, 14 divisions, 3 independent units, one settlement center, 5 regional divisions, and 12 branches.