CENTRAL BANK TO CARRY OUT STUDIES ON REFORM OF BANKNOTES

On August 3, Speaker G.Zandanshatar received First Deputy Governor of the Bank of Mongolia (BoM) G.Dulguun.

At the start of the meeting, the BoM First Deputy Governor briefly introduced the measures being taken by the central bank. Highlighting the progress of the employment support loans as well as measures of repo financing and soft term mortgages being taken within the MNT 10 trillion comprehensive plan for health protection and economic recovery, he informed the Speaker about the joint working group established with the government that has been established for reforms in the banking sector. 

Speaker G.Zandanshatar underlined the importance of economic stability during the pandemic and the development of policy for issuing loans and financing for works to ensure preparation for the winter season.

In the framework of the MNT 10 trillion comprehensive plan for health protection and economic recovery, the central bank has issued MNT 1.8 trillion in loans. Noting that measures should be taken in regards to the reform of bank notes by discontinuing those that are not used in transactions, the Speaker then charged the central bank to carry out studies on introducing a new bank note with a higher denomination.

Source: https://www.montsame.mn/en/read/271385