The Bank of Mongolia is Hosting the Regular Meeting on the Payment Systems of South East Asian Central Banks (SEACEN)

As part of the 100th anniversary of the establishment and strengthening of the modern banking system in Mongolia, the Bank of Mongolia successfully organized the 23rd meeting on Payment and Settlement Systems with the participation of senior officials in charge of payment systems from the South East Asian Central Banks (SEACEN) in Ulaanbaatar from June 24 to June 26, 2024.

More than 30 representatives from 14 countries, including Japan, South Korea, China, Indonesia, Laos, Malaysia, Nepal, the Philippines, Singapore, Sri Lanka, Thailand, Vietnam, Brunei, and Cambodia, participated in the meeting. The participants exchanged views and held open discussions on issues such as changes and innovations in payment systems at the international level, digital transformation, cross-border payments, innovative technologies, research conducted by international organizations, implemented measures, regulatory environment, and future development trends.

Furthermore, during the meeting, a presentation on one of the prominent research topics, "Central Bank Digital Currency (CBDC)," was introduced by Japan's Digital Currency Forum. The presentation showed that CBDC, a technology-based, non-asset-backed cryptocurrency, not only represents a new addition to the payment system but also has a significant impact on central bank financial accounting systems, information technology, and the implementation of monetary policy.