Ulaanbaatar
Khan Bank submits plan to become public listed company
Economy
Ulaanbaatar /MONTSAME/. 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.
As specified in the amendments and a temporary regulation on developing, implementing, reporting, and monitoring, a bank’s plans to restructure the bank as public listed company and change its shareholding structure, and plans for the implementation of its restructuring (approved by the Governor of the Bank of Mongolia and Chairperson of the Financial Regulatory Commission), must be submitted for review to the Bank of Mongolia and Financial Regulatory Commission by July 1, 2021.
In accordance with this legislation, R.Munkhtuya, CEO of Khan Bank, and the bank’s executives submitted its plan for becoming a public listed company to B.Lkhagvasuren, governor of the Bank of Mongolia, and D.Bayarsaikhan, chairperson of the Financial Regulatory Commission, on June 30, 2021.
