Golomt Bank has introduced “Turkish Lira” currency (TRY) into their international payment system establishing correspondent relationship with İş Bank of the Republic of Turkey with the purpose to offer wider range of foreign currency remittance services for its’ customers. This enables customers to receive international payments as well as foreign exchange trading services in TRY.

The Bank believes the introduction of TRY currency will add substantial value towards growing trade needs between Mongolia and Turkey besides widening payment solutions. As of September 2021, total trade volume between the two countries stood at USD 44 million which is an increase of around 8% compared to last year despite the Covid-19 pandemic outbreak.

Golomt Bank, a leading local bank in international remittance services, effects payments in 14 major currencies. As of the third quarter of 2021, international remittance with total amount of USD 9.3 billion has been effected in the banking system and USD 3.2 billion of which with market share of 35% has been handled by Golomt Bank.

Founded in 1924, İş bank is the largest privately owned bank in Turkey with assets of TRY 661 billion, operating through its more than 1,200 branches and 23,000 employees as of June 2021. İş bank also operates abroad through its 22 foreign branches, 2 representative offices as well as 3 wholly-owned bank subsidiaries.