The Blues' only acquisition so far is Danish defender Kristian Pedersen, with the club reportedly placed under a transfer embargo due to being unable to comply with Financial Fair Play rules.
However, Monk told the Birmingham Mail that he is confident that his side can remain active in the transfer market this summer.
"Obviously we're still waiting on some clarity on the whole situation, as are the club," the manager said.
"Like everyone else I'm waiting for that clarity and when it comes through we'll be able to see what we can do."
Birmingham's opening Championship fixture is against Norwich City on Saturday.