Mongolian and Kyrgyz Banks to Cooperate in Digital TransitionEconomy
Ulaanbaatar, May 31, 2023 /MONTSAME/. The Bank of Mongolia signed a Memorandum of Cooperation with the Interbank Processing Center (IPC) of Kyrgyzstan aimed at digital transition in the financial sector.
The Memorandum enables the parties to exchange professional knowledge and experience in the field of payment systems, and cooperate in the reciprocal acceptance of the National Brand ₮ Card and Kyrgyz Elcard in both countries, informed the Bank of Mongolia.
Representatives from the Bank of Mongolia, the Mongolian Bank Association, commercial banks, and fintech companies attended the signing ceremony that took place in Bishkek, the capital of the Kyrgyz Republic on May 24. Director of the Settlement Department of the Bank of Mongolia E. Anar, along with relevant officials held a business meeting with Vice President of the Bank of the Kyrgyz Republic Kayip Kulenbekov, and exchanged information on the payment systems of the two countries.