The Executive Board of the Bank of Mongolia has decided to grant permission to the Industrial and Commercial Bank of China to open a representation in Ulaanbaatar. This important decision was taken at a meeting of the Executive Board on 5th of December, 2016.

According to Mongolian banking law, if a foreign bank wants to open a branch in Mongolia, it must receive government approval or, as in this case, approval from the Bank of Mongolia.  

For Mongolian version please visit here

Монгол эхийг энд дарж уншина уу