Ulaanbaatar
Agreement signed to establish institute for bank employees specialization
Economy
Ulaanbaatar/MONTSAME/. The signing ceremony of the ‘Cooperation
Agreement’ was held today among the Bank of Mongolia, the Mongolian Bankers
Association and the Federal Republic of Germany’s ‘Sparkasse’ bank fund.
Within the framework of ensuring the financial stability of Mongolia and developing the financial market, the Central Bank is implementing a ‘National Program for financial literacy’ in cooperation with governmental and non-governmental organizations.
Under this program, the cooperation
agreement has been signed and the parties will work together to:
- Establish a professional ‘New Institute’ in Mongolia with
the joint funding of the Federal Ministry for Economic Cooperation and
Development, and implement a project to reform the Banking and Finance Academy;
- Develop the standardized training and programs for bank
employees of all levels;
- Set basic skills standards required to work in all
occupations in the banking sector;
- Increase the availability and maintain quality of the ‘Combined theoretical and practical training for banking specialists’ that aims to promote the development of Mongolia's banking and financial sector; and expand the World Savings Day campaign.
‘Preparing bank specialists, introducing theoretical and practical joint training and World’s Savings Day in Mongolia’ joint project by the Bank of Mongolia, and the Federal Republic of Germany’s Savings bank’s international cooperation fund (Sparkasse bank fund) started in 2017. Today’s signing of cooperation agreement provides an opportunity to preserve the results and experience of the project for a longer period of time and sustainability.
The signing ceremony was attended by Deputy Governor of the Bank
of Mongolia G. Enkhtaivan, Ambassador of the Federal Republic of Germany to
Mongolia Jorn Rosenberg, President of the Mongolian Bankers’ Association B.
Medree, the association’s executive director L. Amar and Country Representative
of Sparkasse bank fund in Mongolia Marcus Loch.
