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.