EuroChamber was founded by leading European and Mongolian companies with a strong support from the EU Delegation, to contribute to positive business environment in Mongolia through its work as a united voice of European and Mongolian businesses, and to increase business between Europe and Mongolia.

Contacts

UBH Center, 11th Floor, Suite No 1111, 1 st khoroo Sukhbaatar District, Ulaanbaatar Mongolia

info@eurochamber.mn

(+976) 9575 2050

Banking & finance Innovation and Digitalisation

EuroChamber held its 5th meeting of Banking and Finance working group (WG) on 28 June 2022. During the meeting, the WG finalised the position paper to request the Bank of Mongolia to (1) provide policy support for trade lending from foreign banks, (2) to create same/ similar interest rate conditions for short-term swap transactions as the long-term swap agreements of the Bank of Mongolia, (3) to regulate export letter of credit services in accordance with common international rules and practices, i.e. with zero risk weighting.

We will continue our policy dialogue with the Bank of Mongolia and other regulators, aiming to improve access to trade financing for Mongolian companies and banks. Thanks to our member Ard Financial Group for hosting us.