Awards

At the "GIP AWARDS 2023," the Trade and Development Bank (TDB) of Mongolia was recognized as the "Best Product and Service Provider."

The 5th Plenary Meeting of the Green Investment Principles (GIP) for the Belt and Road Initiative was successfully held in Beijing, China. This annual event brought together over 100 representatives from more than 50 members institutions across Asia, Europe, the UK, and Africa. During the meeting, the "GIP Awards" were presented to recognize the best-performing organizations of the year.

The main goal of this plenary meeting was to increase member institutions' involvement in making investments and financial products environmentally friendly, resilient to climate change, adaptable, and accessible to the public. Additionally, the meeting aimed to present the updated vision of the Green Investment Principles (GIP) and discuss the next steps in their action plan.

This year, the Trade and Development Bank (TDB) was recognized as the "Best Product and Service Provider" for its implementation of green investment principles in its operations and the introduction of green financing products and services to the market. This award highlights TDB's commitment to sustainable finance and its leadership in promoting environmentally friendly investment practices.

The Trade and Development Bank (TDB) of Mongolia was awarded the title of "Best Bank for Remittances Mongolia 2023" by the World Economic Magazine

In 2019, Mongolia was placed on the Financial Action Task Force (FATF) grey list, which resulted in Mongolian commercial banks being excluded from the international US dollar payment system. However, the Trade and Development Bank (TDB) of Mongolia became the first bank in the country to establish a partnership with the top US clearing bank, the Bank of New York Mellon, and successfully opened a nostro account.

In recognition of the achievement of reconnecting Mongolia to the global US dollar payment system, the World Economic Magazine awarded the Trade and Development Bank (TDB) the title of "Best Bank for Remittances Mongolia.

The Mongolian Sustainable Finance Association (MSFA), the Bank of Mongolia, and the Financial Regulatory Commission annually recognize organizations that lead in sustainable finance. This year, TDB was named the “Featured Sustainable Finance Bank of 2023” for its outstanding contributions to promoting sustainable finance practices.

Trade and Development Bank is a pioneering organization in implementing sustainable financing principles within the banking sector, setting the standard for the industry.

TDB aims to become a green bank by achieving net-zero carbon emissions from its internal operations and securing $2 billion in sustainable financing by 2030.

In 2023, TDB introduced a business green loan backed by the Asian Development Bank. 

Additionally, under the Green Climate Fund's (GCF) readiness program, TDB developed and approved the "Supporting Local Green Development in Mongolia" project. This innovative project aims to promote regional green development through a blended finance model that involves both public and private sectors.

TDB is committed to providing faster and more efficient services to its customers, with goal of enhancing customer satisfaction. One of the bank’s key initiatives in this direction was the implementation of the world-leading "Genesys Pure Cloud" system in 2022. Additionally, TDB was the first bank in Mongolia to introduce the "Service Excellence" ISO 23592:2021 standard, which was developed by the International Organization for Standardization in 2021.

This time, TDB was awarded the "GENESYS CX 2023" award by Genesys, a leading company in contact center services and cloud technology. This marks the first time a Mongolian company received an award from an American software company.