How is the oldest bank in Mongolia only 24 years old?
Upvote:3
You are referring to 2 Mongolias.
The State of Mongolia was formerly called the Mongolian People's Republic. Formerly a part of China, it proclaimed independence with the support of Russia. On March 13th 1921 a Provisional People's Government was established, and then on November 26th, 1924 the government proclaimed the Mongolian People's Republic. This was a Soviet satellite state.
A referendum took place on October 20, 1945, when Mongolia voted for independence.
After the breakdown of communist regimes in Europe in late 1989, Mongolia saw its own democratic revolution in early 1990; it led to a multi-party system, a new constitution of 1992, and transition to a market economy.
(From Wikipedia.)
So what you are referring to in 1990 is the "modern" Mongolia. And the banks of modern state of Mongolia would be from 1990 onwards logically.
But coins have been issued by the "Mongolian People's Republic" since at least 1925. Example: KM#1, 9, 21 and 27 as per Catalogue each of denomination 1 MONGO and KM#2, 10 and 16 of denomination 2 MONGO. "State" (modern) Decimal Coinage seems to start from 1994 with KM#122 of denomination 20 TUGRIK. This seems to correspond with the idea of the new state and its Banks starting off around 1990.
Note that I referred to the 2008 catalogue rather than the 2015 linked above.
Upvote:7
The Wikipedia article is inexact. The TDB is the oldest existing commercial bank in Mongolia. Before 1990 all the banks in Mongolia (and the Soviet Union in general) were state-owned banks.
The first bank in Mongolia was the Trade and Industry Bank of Mongolia, opened in June 1924. This bank became a possession of the Mongolian government in 1954 and was renamed the State Bank of Mongolia at that time. Since then it has been renamed the Bank of Mongolia, which is how it is known today. It is a central bank, owned by the government of Mongolia.
More post
- 📝 Were women in 1st century Israel not trusted as witnesses in court?
- 📝 Was there a British Royal tradition associated with the name Elizabeth?
- 📝 Where can I find reliable primary sources written by Ancient Egyptian laborers?
- 📝 How did people apply for university in the 18th century?
- 📝 What animals did South East Asians ride in the Middle Ages?
- 📝 Why is (the best) soot to be taken from glassmakers, according to Diocorides' "Materia Medica"?
- 📝 Is black American history only about segregation, slavery, and the 3 people you get taught about in school?
- 📝 Why were the 8th Route Army better at fighting the Japanese than the Nationalists were?
- 📝 What was the first recorded non-violent toppling of a dictator?
- 📝 Was the Titanic sinking the only time in recorded maritime history that a band was playing while their ship was sinking?
- 📝 When people use spears to fight cavalry do infantry stab the horse or the rider?
- 📝 Did B-17 crews run into difficulty releasing their bombs and does data exist on this?
- 📝 Did Hannibal's elephants wear protective footwear?
- 📝 Who was "Lt.-Commander R.T. Chaloner Woods"?
- 📝 What was the reason for US Fed rate increase in spring 1928?
- 📝 What makes studying science different from studying the history of science?
- 📝 What cipher did Jefferson and Madison use to correspond?
- 📝 UK Tories vs Whigs in the 19th century: broad political classification?
- 📝 When did scientists first postulate that Earth's atmosphere might have an upper limit?
- 📝 Are there any texts/translations of the 4 main Egyptian creation myths?
- 📝 Is there an instance where Rome adopted a weapon to win a war?
- 📝 How have the atomic bombings of Hiroshima and Nagasaki affected Japanese culture and language?
- 📝 When was the Yemenite Jewish community isolated from the rest of the Jewish world?
- 📝 Number of artisanal working hours spent on making Terracota Army
- 📝 Have Germany and Poland ever signed a peace treaty after WWII?
- 📝 Has anyone written a history centered on predictions/expectations about the future?
- 📝 What was the societal structure of Celtic culture in the Hallstatt period?
- 📝 What is the oldest archaeological source which mentions a name of a specific place?
- 📝 How did American colonial rights and conditions compare to those within the British Isles?
- 📝 What are some examples that show medieval stone construction on top of older foundations?
Source: stackoverflow.com
Search Posts
Related post
- 📝 How is the oldest bank in Mongolia only 24 years old?
- 📝 How old is the day of 24 equal hours?
- 📝 How common was it for people to live 80+ years in the 17th century?
- 📝 Did the Ptolemaic Egyptians know how old the Pyramids were?
- 📝 How did the Catholic Pope manage to become more powerful than Kings in old Europe?
- 📝 How did the Swedish army deal with prisoners of war in the Thirty Years War?
- 📝 How did the Dutch East India Company (VOC) have so much revenue when they only control small part of Indonesia?
- 📝 How did the Carthaginians manage to survive three years of siege?
- 📝 Before the use of Anno Domini dating (BCE/CE), how were years numbered?
- 📝 How quickly did the knowledge of the existence of the new world spread into the old world?
- 📝 How old is the Egyptian winged disk? Is it Assyrian?
- 📝 How old is the practice of removing wisdom teeth?
- 📝 How did the king give land to new barons without taking it from the old ones?
- 📝 How was Enguerrand VII de Coucy able to keep his allegiance to both king of England and France during the Hundred Years War?
- 📝 How old is the Classic Arabic language?
- 📝 How did member states of the Holy Roman Empire justify only including part of their land inside it?
- 📝 How did the election of one-third of Senators every two years stay in sync with addition of new states?
- 📝 How old is the idea that humans have 360 joints?
- 📝 How old is the practice of wearing your "Sunday Best" to church?
- 📝 How do we know the oldest New Testament manuscripts are copies?
- 📝 How old was the Egyptian calendar system?
- 📝 How were old wooden warships with structural damage to the hull repaired at dock?
- 📝 Which bank was the oldest surviving bank in the world prior to MPS getting that status?
- 📝 For how many years in the eighteenth century were Russian soldiers present within the Polish-Lithuanian Commonwealth borders?
- 📝 When and how was West/East-German citizenship determined in the early years of post-war Germany?
- 📝 How old was the youngest white person sentenced to death in the U.S.A?
- 📝 Why did the USA revoke the arms embargo or sanction on Turkey only after 3 years of the invasion of Cyprus?
- 📝 How were years numbered on the Republican Calendar?
- 📝 How old was Bagoas when he met Alexander the Great?
- 📝 How many digits of Pi did the old Egyptians know?