Every Citizen in Mongolia Now Has an Accumulation Account

The Mongolian Parliament passed the National Wealth Fund Law on April 19, 2024. As part of the implementation of this law, the Government of Mongolia discussed and approved the draft procedure for creating, maintaining, and making expenditures from individual savings accounts at the Government meeting on December 20, 2024.

 

With the implementation of the National Wealth Fund Law and the approved regulations, Mongolia’s natural resource wealth will now be owned by all citizens. Starting today, an accumulation account will be created for every citizen, and it will be accessible for viewing through the E-Mongolia electronic platform.

 

As a result, all 3.5 million citizens of Mongolia now have a savings account, and each citizen will receive a dividend of 135,000 MNT. The accumulation fund is composed of up to 34% of the dividends from mining companies, and the funds are intended to be spent on citizens’ health, education, and housing.

 

Citizens can check their accumulation account information through the “Chinggis Khan” National Wealth Fund section in their profile on the E-Mongolia platform.