TDB TO COOPERATE WITH CHINESE BANKS
Ulaanbaatar, Mongolia /MONTSAME/ A contract on import financing has been initialed by the Trade and development bank /TDB/ of Mongolia and the largest Chinese banks.
An “Agricultural bank”, “Production trading bank” and state bank of “Bao Shing” in Bugat city of China and the Mongolian TDB have agreed to give "Ynan and Dollar" financing to those businessmen importing goods and products from China. It may become favourable for Mongolia-based entities, for example, who usually use yuans when importing equipment from China. Now that the TDB has been enabled to give the “Yuan” financing, a risk is avoided of being affected by exchange rates.
The TDB has been cooperating with over 150 banks, financing organizations, has nostro accounts in 37 banks, who are leading international settlements, for example, HSBC Bank N.A, Citibank N.A, Bank of Tokyo-Mitsubishi UFJ ltd, Commerzbank AG, Credit Suisse, ING N.A. By September 30 of 2011, the TDB was co-operating with 28 foreign countries banks and financial institutions giving trade and financing loans.
B.Oyundelger
An “Agricultural bank”, “Production trading bank” and state bank of “Bao Shing” in Bugat city of China and the Mongolian TDB have agreed to give "Ynan and Dollar" financing to those businessmen importing goods and products from China. It may become favourable for Mongolia-based entities, for example, who usually use yuans when importing equipment from China. Now that the TDB has been enabled to give the “Yuan” financing, a risk is avoided of being affected by exchange rates.
The TDB has been cooperating with over 150 banks, financing organizations, has nostro accounts in 37 banks, who are leading international settlements, for example, HSBC Bank N.A, Citibank N.A, Bank of Tokyo-Mitsubishi UFJ ltd, Commerzbank AG, Credit Suisse, ING N.A. By September 30 of 2011, the TDB was co-operating with 28 foreign countries banks and financial institutions giving trade and financing loans.
B.Oyundelger
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