Latest issue of ‘Inclusive Finance’ magazine by Financial Regulatory Commission publishedEconomy
Ulaanbaatar /MONTSAME/. The latest issue of monthly ‘Inclusive Finance’ magazine was published by the Financial Regulatory Commission (FRC) and has now reached to readers. This latest issue contains news and information about the financial sector.
In the ‘Policy Article’ section, readers will find information on the specifics of Savings and Credit Cooperatives (SCCs) and their roles in the economy. Internationally, SCCs are already recognized as a microfinance sector that makes a real contribution to reducing unemployment and poverty, and improving local development.
Readers are also recommended to see the interview with Ts. Altantuul (head of the FRC’s SCCs Department of the FRC) in the magazine’s ‘Position’ section. The interview highlights the importance of increasing the role of SCCs in a market economy, reducing unemployment and poverty and increasing access to finance. In particular, SCCs are an integral part of financial market; which, like other markets, must be sustainable, and contribute to the economy.
The ‘National Program for the Development of the Financial Market of Mongolia until 2025’ approved by Government Resolution No. 299 of 2017 sets specific goals for the development of the SCCs market. These goals include the implementation of policies to better develop SCCs at the local level, establish protection mechanisms, and develop SCCs into professional financial institutions. As a result, the discipline of microfinance market participants will improve and their role in the economy will increase two to three-fold.
In the ‘Comments and Recommendations’ section of the magazine, readers can find information on the rules of the over-the-counter market’s operations. And in the ‘Fintech and Regtek’ section, readers can learn about international experiences in cryptocurrency regulation. Cryptocurrencies may pose a risk of money laundering and the financing terrorism; by allowing users to make transactions anonymously. Accordingly, most countries have been regulating the activities of cryptocurrencies; by amending their laws and regulations anti-money laundering and combatting the financing of terrorism.
Other topics of possible interest to readers include the criteria for sustainable financing (including eligibility for such types of loans) and reducing the cost of financing, in the ‘Sustainable Finance’ section. Information about Australia's financial market reform is presented in the ‘Researcher's Podium’ section. The article includes details about Australia's public sector, privatization of state-owned enterprises, past and present labor market regulations, mining sector reforms, and successful international tax regulations.
The latest issue also include statistics related to economics, domestic (regional and international) financial markets, and international stock market indices.
Source: Financial Regulatory Commission