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Letter of credit

Letter of Credit – Process flow

Categories
Letter of credit

Financial advice

We are keen to work together to provide you with valuable financial advice and bring your business to international business standards. We will work with you from the time that you sign a trade agreement until receive your goods as an importer and/or and receive payment for the goods as you sell your goods as an exporter.

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Brief introduction of the bank

Our mission

We will deliver advanced and comprehensive financial solutions through customer-centric services to our customers based on the approach of providing responsible financing and good governance services integrated with sustainable development through a team of professional experts.

Categories
Brief introduction of the bank

Our vision

To become a world-class bank pioneering development and creating value with its customers.

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Brief introduction of the bank

Our slogan

Your financial partner to accelerate the development.

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Valuables

Customers:

By providing a comprehensive and satisfying financial service based on the needs of our customers, we will exceed their expectations, thereby increasing their financial ability and confidence and increasing their value.  

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Account service in ‘Gold’ denomination

Benefits

  • Deposit physical Gold as a bar by a floating valuation of XAU denomination
  • Safe and risk-free
  • Does not charge any withdrawal or transaction fees
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Account service in ‘Gold’ denomination

Terms and conditions

Terms for gold current account (XAU)

Account currency

XAU- Gold /Oz/

Interest rate /annual/

 In face of the global pandemic COVID-19, no interest will be paid for any type of current accounts, during the implementation of the “Law on Prevention, Control and Reduction of Social and Economic Impact of Coronavirus”.

Minimum balance requirement

 –

Categories
Account service in ‘Gold’ denomination

Fees and charges

The account does not charge any withdrawal or transaction fees.

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Account service in ‘Gold’ denomination

Eligibility or required documents

  • Customer application form /download here/;
  • An original copy of the “Trading permit” issued by the The Financial regulatory commission /FRC/;
  • Documents required:
    • For Mongolian citizens: Citizen ID card.
    • For foreign citizens: Certificate of Alien Registration Card and Passport Copy.
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Valuables

Social responsibility:

By developing a competitive business organization, we will work hard to build the well-being of the environment, the environment and our people.

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Escrow account

Benefits

  • Can prevent from the potential multilateral issues, misunderstandings and doubts between the parties and cover risks;
  • Reliable and safe transfer of the funds by the bank with the consent of the parties who are subject to the terms of the agreement;
Categories
Escrow account

Terms and conditions

Terms MNT USD EUR CNY

JPY

On purchase agreements for property and real estate’s sale:

Seller

20,000 10  10 70

1,000

Buyer

20,000 10  10  70

1,000

Other:

Seller 0.1% 

/Up to 100,000 MNТ /

0.1% 

/Currency equivalent to 100,000 MNT /

Buyer

 

Categories
Escrow account

Fees and charges

Other current and saving account fees

Categories
Escrow account

Eligibility or required documents

  • Customer application form /download here/;
  • An original copy and a copy of the agreement between the parties;
  • Documents required:
    • For Mongolian citizens: Citizen ID card;
    • For Foreign citizens: Passport and certificate of alien registration;