Bank of Mongolia - Policy on Payment Systems


The Bank of Mongolia's Policy of Payment Systems outlines the objectives and structure of a national payment system, as well as the responsibilities of its participants. The main objective of the national payment system is to ensure the safety, stability and efficiency of the payment and settlement arrangement for its participants. In order to achieve this, the Bank of Mongolia by promoting the use of non-cash payment, introducing new advanced payment instruments and services, establishing a legal framework, and developing the payment system infrastructure on par with international standard, as well as implementing sound oversight procedures and having appropriate risk assessment and management framework to prevent the potential risks associated with payment system. The policy document is divided into several parts, and covers the following topics:

1. Objective and Structure of the Payment System
2. Responsibilities of the Payment System Participants
3. Cooperation
4. Public Awareness

Document Details

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Wednesday, December 26, 2012
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Bank of Mongolia
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