Golomt Bank has further strengthened its international banking services by establishing a partnership with Mashreq, one of the leading financial institutions in the MENA region, and opening an account in UAE Dirhams (AED). This initiative is part of the Bank’s ongoing efforts to broaden its foreign payment solutions and better serve its customers’ evolving needs. With this development, Golomt Bank’s customers can now carry out direct Dirham payments, benefiting from faster processing times and competitive fees, thereby improving the efficiency and convenience of cross-border payments.
To commemorate this milestone, representatives of Golomt Bank and Mashreq participated in a signing ceremony, reaffirming both institutions’ commitment to strengthening cross-border banking cooperation and fostering mutually beneficial business opportunities between Mongolia and the UAE.
Commenting on the partnership, Mr. Odonbaatar Amarzaya, Chief Executive Officer at Golomt Bank, stated:
In recent years, Golomt Bank has continued to expand its collaborations with international development finance institutions, impact funds, and global financial institutions, gradually strengthening its presence in the international financial landscape. The establishment of a correspondent banking relationship with Mashreq Bank represents a meaningful step for Golomt Bank and contributes to facilitating more standardized financial connectivity between Mongolia and the Middle East.”
The inclusion of the UAE Dirham expands Golomt Bank’s foreign transfer capabilities to a total of 16 currencies. Alongside widely used hard currencies such as the US dollar, euro, and Chinese yuan, customers can also transact in currencies including the Turkish lira, Swiss franc, Canadian dollar, and now UAE dirham. This broader currency offering enables greater flexibility, allowing customers to tailor their transactions to specific business requirements.
About Mashreq Bank:
Mashreq is a leading financial institution headquartered in Dubai, serving individuals and institutions across the UAE and key regional and international markets. With nearly six decades of heritage, Mashreq delivers digital-first, customer-centric banking across retail, corporate and investment banking, global markets, and wealth solutions. Guided by its purpose to help customers Rise Every Day, Mashreq is progressing its ESG agenda through responsible banking, inclusive growth, and robust governance.
www.mashreq.com | media@mashreq.com
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