Mining governance in Mongolia improves slightly, but public disclosures, governance of state-owned enterprises require attention
Mining governance in Mongolia remains “satisfactory,” with marginal improvements since a previous assessment, according to the 2021 edition of the Resource Governance Index (RGI).
Khan Bank submits plan to become public listed company
The Parliament of Mongolia adopted amendments to the Banking Law in January 2021, requiring the restructuring of systemically important commercial banks as public companies listed on the Mongolian Stock Exchange.
Primary market trading of ‘Lend Bond’ went successfully
Primary market trading of ‘Lend Bond’ with face value of MNT 100,000, 14% annual interest rate, 2-year maturity issued by ‘LendMN NBFI’ JSC, a tier I listed company of MSE went successfully. The subscription period of this bond was period between June 25, 2021 and June 30, 2021 and raised MNT 5.0 billion.
TRADE MONGOLIA-2021 taking place
Mongolian National Chamber of Commerce and Industry (MNCCI) is organizing TRADE MONGOLIA-2021 forum virtually on the occasion of the 100th anniversary of the start of trade sector in Mongolia.
Mongolia refinances its USD 1 billion Chinggis and Gerege debts with low interest bonds
On June 29, Tuesday, Minister of Finance B.Javkhlan delivered a presentation on the liability management taken by the government of Mongolia to refinance its bonds – Chinggis and Gerege maturing in 2022 and 2023 respectively – at all-time low interest rates.
Steppe Gold receives approval for the cross-listing on Mongolian Stock Exchange
Steppe Gold Ltd., Mongolia’s premier precious metals company, announced on June 24 that it has received the approval from the Financial Regulatory Commission of Mongolia in relation to its proposed cross-listing on the Mongolian Stock Exchange.
Ringing the bell ceremony organized for 'Lend Bond’ offer commencement
The 'LendMN NBFI' JSC, a constituent in the Top-20 index, is issuing the 'Lend Bond' and the ringing the bell ceremony organized at Mongolian Stock Exchange (MSE) on June 25.
Benefits of being a country with good credit rating
For a country, good credit rating is a great opportunity to benefit from global financial markets. The international credit rating agency Fitch Ratings has assessed Mongolia's economic situation on a number of factors and announced that the country’s rating outlook is stable. The country has been assessed by the internationally renowned S&P from 1999 and by Fitch and Moody's since 2005.
Golomt Bank signs second 3-year loan agreement with Enabling Qapital Investment Fund
On June 17, 2021, Golomt Bank successfully completed second loan agreement with Enabling Qapital AG for medium term funding of USD 5 million. We are very happy that Enabling Qapital AG has bestowed trust in Golomt bank and continued to support our clients during the COVID-19 pandemic.
TOP-100 enterprises of 2020 announced
Today, June 28, the Government of Mongolia and Mongolian National Chamber of Commerce and Industry have organized an event for the 20th year to announce rankings of TOP-100 enterprises.
Financial Regulatory Commission of Mongolia assumes chair of AFI regional platform
Mongolia’s Financial Regulatory Commission (FRC) and the Alliance for Financial Inclusion (AFI) are co-hosting two days of virtual meetings, during which FRC Chairperson Bayarsaikhan Dembereldash will assume the chair of the global network’s Eastern Europe & Central Asia Policy Initiative (ECAPI).
Leading banking, finance and technology companies have announced that they are taking their strategic partnership to the next level
Ard Financial Group JSC (Ard), GrapeCity Mongol LLC (Grape), and MOST Fintech (MOST) signed a strategic partnership agreement in 2017. Today they confirmed this partnership and announced the start of thenext stage of cooperation.
Golomt Bank and International Investment Bank concludes a long-term loan agreement to support SME sector in Mongolia
Golomt Bank of Mongolia secured a USD 10 million loan with a tenor of five years from International Investment Bank (IIB) on 10 June 2021. Golomt Bank plans to utilize the loan proceeds to finance the SMEs, the projects with the participation of companies from IIB’s member states, as well as to support sustainable development initiatives in Mongolia.
Central bank decides to keep policy rate unchanged
At its meeting held today, the Monetary Policy Committee of the Bank of Mongolia took into consideration the current state and outlook of the economy and financial markets, as well as the uncertainties and risks inherent in the domestic and external environments, and reached a decision to:
Mongolian cashmere exported to Italy by land
Khanbogd Cashmere LLC shipped 20 tons of cashmere that meet international quality requirements and stardards to Italy on June 2 and the shipment arrived in Italy today, on June 22.
Gross industrial output increased by 43.6 percent from same period of previous year.
By the preliminary results, in the first 5 months of 2021, the gross industrial output reached MNT 7.7 trillion, increased by MNT 2.4 trillion (43.6%) from the same period of previous year.
Mongolia-Singapore Business matching webinar held
The Mongolia-Singapore online business meeting has been a success every year, and the two sides have constantly explored opportunities for business cooperation. In order to support local businesses, provide them with access to the Singaporean market, and thus increase the economic growth of Mongolia, the Ministry of Foreign Affairs of Mongolia and the Embassy of Mongolia in Singapore, in collaboration with the Mongolian National Chamber of Commerce and Industry and the Singapore Business Federation, successfully organized the online event “Singapore Mongolia Business Matching Webinar-Assessing Mongolia and Singapore Markets Virtually” on June 16, 2021.
Sea buckthorn farmers receive tractors
The Association of German Chambers of Industry and Commerce (DIHK) is implementing 'Pro Value' project to create sea buckthorn production clusters and support the country in producing and exporting final products.
Securities traded at national stock market increased by 37.5 times
In the first 5 months of 2021, 340.7 million pieces of securities worth MNT 612.1 billion were traded at the national stock market, increased by MNT 595.8 billion (37.5 times) and 234.1 million pieces of securities (3.2 times), compared to the same period of previous year.
B.Turmunkh: I illustrated 60 pieces for the updated version of ‘The Secret History of Mongols’
D.Sumiyabazar: Law on Legal Status of Ulaanbaatar City has been successfully amended after 27 years
P.Khaliun: I believe the relations between two countries will soon reach strategic partnership