Ulaanbaatar
Amendments Made to the Regulations for Granting Child Monetary Allowances
Politics
Ulaanbaatar, March 21, 2024 /MONTSAME/. At the regular session of the Cabinet on March 20, 2024, amendments were made to the regulations for granting child monetary allowances.
For each child under the age of 14 living in a specialized orphanage, the orphanage will open an account and deposit the child's money in the bank. However, for each child aged 14 and older, a current account will be opened. In this account, 80 percent of the child's money will be deposited in the bank, while the remaining 20 percent will be managed by the child. Additionally, this account will be equipped with an electronic card.
This way, children in orphanages will have the opportunity to spend 20 percent of their money on a card for their own needs, such as buying school supplies and participating in extracurricular clubs. The principle of receiving the remaining 80 percent in the form of deposits in connection with the current arrangement or in the form of savings accounts for children will continue to apply.
As of January 2024, a total of 924 children
and young people aged 0 to 18 are being raised in 29 welfare centers and orphanages
run by 20 organizations across Mongolia. According to the changes made to
the 2021 Child Monetary Allowance Regulations, the allowance is now deposited in the
child's account based on the assessment of the child rights inspector.
