Ulaanbaatar
Parliamentary Committee Holds Hearing for Governor of Bank of Mongolia Nominee
Politics
Ulaanbaatar, December 17, 2025 /MONTSAME/. The Standing Committee on Economics of the State Great Khural held a nomination hearing on December 16, 2025, with the candidate for the post of Governor of the Bank of Mongolia.
At the outset of the hearing, nominee Narantsogt Sanjaa stated that he had developed his policy platform based on 22 years of experience working in the financial and banking sector. He emphasized his intention to make monetary policy independent of the electoral cycle and to apply his knowledge and experience to resolving current challenges. He underlined that the core mandate of the Bank of Mongolia is to safeguard the value of the national currency and stressed that monetary policy is a comprehensive process that should not be confined solely to monetary policy instruments but should be based on coordination among fiscal policy, sectors, and banks. He noted that macroeconomic policy and foreign exchange reserve management would be implemented “from within, not from outside.”
He further stated that aligning monetary policy with fiscal policy while separating quasi-fiscal activities from the Central Bank would be a priority. He also pledged to realistically assess banking sector risks and work toward decisions aimed at restoring sector stability.
A total of 36 people registered in advance for the hearing, of whom 21 participated as attendees and 15 as observers, raising questions for the nominee. Compared with previous nomination hearings, this session recorded the highest number of participants and observers.
In accordance with the Law on the Procedure of
Plenary Sessions of the State Great Khural of Mongolia, within two working days
after the nomination hearing, participating members will convene in a closed
meeting and prepare a hearing report by a majority vote of those present. The
report will be circulated to all Members of Parliament. The competent
authority’s proposal and the hearing report will then be reviewed at a standing
committee meeting, which will issue its conclusions. The hearing report and the
standing committee’s conclusions will be presented at a plenary session.
