Regulatory AlertsStrategy for the Development of the National Payment System
The Bank of Mongolia issued the Strategy for the Development of the National Payment System 2022-2026 to modernize Mongolia's financial infrastructure. The strategy mandates the establishment of a secure, efficient, and customer-centric digital payment ecosystem through three pillars: strengthening institutional frameworks, upgrading payment infrastructure, and ensuring universal access to digital payment services. Key requirements include enhancing cybersecurity, digitizing government payments, promoting financial inclusion, and reinforcing legal and supervisory mechanisms to support innovation and cross-border transactions.
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