Parliament of Mongolia - Law on Central Bank (Bank of Mongolia)

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The Parliament of Mongolia's Law on the Central Bank of Mongolia (Bank of Mongolia) establishes the legal grounds of the powers of the central bank, and provides for its management, organization and activities. The main objective of the Bank of Mongolia (BoM) is to ensure stability of the togrog, the country's currency. In addition, the BoM aims to promote balanced and sustained development of the national economy through the stability of money, financial markets and the banking system. The BoM achieves these objectives by issuing currencies into transaction; developing and implementing monetary policy; acting as the Government’s fiscal intermediary; supervising banking activities; organizing inter-bank payments and settlements; and holding and managing the State’s reserves of foreign currencies. The law is divided into several chapters, and sets forth provisions on the following topics:

1. Currency of Mongolia
2. Activities of the Bank of Mongolia
3. Supervision of Banks by Bank of Mongolia
4. Management of the Bank of Mongolia
5. Relations of the Bank of Mongolia with Others
6. Paid in Capital of Bank of Mongolia and Allocation of Income
7. Financial Statements and Accounts of the Bank of Mongolia

Document Details

Document Type: 
Document Topic: 
Doument Author (Entity): 
Authoring Country: 
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Issue Status: 
Year of Document: 
1996
Date of Document: 
Tuesday, October 1, 1996
Document Authors: 
Parliament of Mongolia
Language (This Document): 
English

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