On January 10th, 2019, 'Ard Credit NBFI" JSC delivered the following announcement to MSE:

''Ard Credit NBFI JSC was established in 2011 and has been operating under the applicable legislations and licenses issued by the Financial Regulatory Commission. In 2018, the Company was granted the license of "Electronic Payment and Remittance Service" by the Financial Regulatory Commission. However, the Bank of Mongolia has been in charge of all matters related to national payment system since January 01, 2018 due to the newly adopted Law on National Payment System. We have been informed that we need to get a license on electronic payment and remittance service from the Bank of Mongolia, and we applied for such license in September 2019. 

As the Bank of Mongolia required some additional documentation in reviewing the application, we are in the process of delivering those documentation to them.

For more information please click here. 

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