The Bank is under the constant supervision and regulation of the Bank of Mongolia because it accumulates and stores the funds of citizens, legal entities, and the public on the basis of mutual trust, and uses these resources to engage in financial intermediation activities, playing an important role in the country’s economic development and financial stability.

Law enforcement agencies conducted a search of the TransBank as part of a criminal investigation into certain prominent individuals, and it was reported on social media and some media outlets that the bank may have been involved in illegal activities.

Any person who becomes a significant shareholder of a bank or acts as a bank manager is subject to legal regulations that require permission and notification from the Bank of Mongolia, and the individuals named in the information are not shareholders or managers of the TransBank. It is also worth noting that the bank is not responsible for any obligations of the shareholder and is exempt from and separate from the liability of the shareholder.

The operations of the TransBank are conducted in accordance with the Law on Banking and relevant laws. While monitoring the financial condition and prudential criteria, the Bank of Mongolia is ready to take relevant measures in accordance with the law to ensure the stability of not only the bank itself but also the banking sector.