The latest quarterly meeting of the Consultative Council on
Investment Climate and Private Sector Development (CCICPSD), held  earlier this month with Deputy Finance
Minister T. Ochirkhuu in the chair, mainly devoted itself to recommendations on
the law on “Conducting Settlement in National Currency” aimed at protecting and
promoting the interest of local suppliers. The suggestions had been prepared by
the Business Council of Mongolia. BCM Executive Director Jim Dwyer made it
clear that there is no problem settling transactions in MNT, but Mongolian
vendors need to be able to link it to other currencies when quoting sales
prices in MNT for imported products.

The meeting decided to forward the recommendations to
Minister of Finance. S.Bayartsogt, Mongolbank Governor L.Purevdorj, and  D.Bayarsaikhan, Chairman of the Financial
Regulatory Committee, so that they can be considered for implementation.