In accordance with the law on prevention, control and reduction of socio-economic impact of coronavirus (COVID-19) pandemic approved by the Parliament of Mongolia on April 29, 2020 and the law on payments in national currencies with the guidelines issued by the Bank of Mongolia, the following restrictions will be imposed on foreign exchange transactions by TDB until December 31, 2020.
However, the following transactions under a banking license shall be made in foreign currency. These include:
Please note that our bank’s staff will remind you of this new regulation and provide appropriate services based on the purpose of your transaction. We hope that you will understand and accept the provisions of this law, as they apply to all commercial banks, business entities and individuals operating in Mongolia.
TRADE AND DEVELOPMENT BANK