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Bridge to the Persian Gulf: What the Agreement Between Golomt Bank and Mashreq Bank Means for the Citizens of Mongolia www.open.kg
Golomt Bank has opened a direct correspondent account in UAE dirhams (AED) at Mashreq Bank, one of the leading financial institutions in the Emirates. This innovation eliminates the need to use Western intermediary banks for international transfers between Mongolia and the UAE.
Now transactions can be conducted directly in the national currency of the UAE, significantly simplifying the process and increasing its efficiency. This means that conversions to US dollars or euros are no longer required, facilitating financial operations related to the Emirates.
Benefits for Citizens of Mongolia
Cost reduction: Eliminating intermediaries and currency conversions significantly reduces fees for transfers.
Faster operations: Direct settlements between Golomt Bank and Mashreq Bank facilitate quick payment processing — within hours.
Benefits for tourists: Mongolian citizens in Dubai or Abu Dhabi can easily transfer funds to local accounts without significant losses.
Support for businesses: Companies engaged in import and export with the UAE gain effective tools for settlements with partners.
Access to investments: The UAE is an important financial center, opening new opportunities for business and investment for Mongolian citizens.
Popularity and Rating of Mashreq Bank
Mashreq Bank, one of the oldest and most reliable banks in the UAE, is among the top five largest financial institutions in Dubai.
Credit Ratings (High Reliability)
Global rating agencies assign the bank high investment ratings of class "A":
Fitch: A (Stable)
S&P Global: A (Stable)
Moody's: A3 (Stable)
Popularity and Status
Top 5 in the UAE: The bank's assets exceed 335 billion dirhams, making it a significant player in the region's financial market.
Leader in digital technology: Recognized as the fastest-growing banking brand in the Middle East and the best digital bank thanks to the Mashreq Neo platform.
Choice of businesses and consumers: Successfully meets the needs of both business clients and private customers with advantageous programs.
Published Date:2026-08-09
