Category: Banks. Country: Mongolia.
Welcome to the Bank of Mongolia. We are pleased to present you with the Bank of Mongolia's activity to implement monetary policy guidelines, brief outlook of developments in the Mongolian economy and organizational structure, as well as annual reports of the our bank. Monetary policy conducted by the Bank of Mongolia with the approval of State Great Khural primarily focuses on ensuring monetary stability of national currency - Togrog, maintaining stability of the financial sector, and creation of monetary and financial environments favorable for sustainable growth of the national economy. We are happy to inform you that the reporting year was a year with many positive developments. It was a year with lighter monetary policy, stable prices of goods and services, lower Central Bank Bill rates and an introduction of many new financial products and services. Inflation dropped to 1.6 percent annually, the lowest level for the last 12 years. The Bank of Mongolia is improving its supervision capacities in line with international standards set by the Basel Committee. Banking competition stepped up and the volume of deposits and loans reached unprecedented levels since 1991. This demonstrates increased public confidence towards the banking system. The NBFIs also firmly set its own foot on our financial market and they are making significant contributions to deepening financial intermediation.
Address: Baga Toiruu 9, Ulaanbaatar 46, Phone: 976 11 310392 Fax: 976 11 311471
