Ulaanbaatar
World Bank representatives visit Financial Regulatory Commission
Society
Ulaanbaatar /MONTSAME/. Chairman of the Financial Regulatory
Commission (FRC) D.Bayarsaikhan received East Asia and Pacific Regional
Director of the World Bank Hassan Zaman and other representatives.
During the meeting, FRC Chairman D.Bayarsaikhan expressed his
gratitude to the World Bank for being a reliable partner of Mongolia for the
past 30 years and for the methodical assistance provided to ensure financial
stability. In particular, the FRC Chairman emphasized that the ‘Strengthening Fiscal
and Financial Stability Project’, which is financed by the World Bank, is playing
a crucial role in improving the credit regulatory environment and calculating the
risks.
In addition, the FRC presented the regulations
related to banks becoming public companies and the regulation of virtual
assets, as well as the risks faced by the financial sector within the framework
of the banking sector reform, and exchanged opinions on this.
FRC Chairman D.Bayarsaikhan also put forth a request to continue
implementing projects in the field of developing information technology and
strengthening the capacity of the Committee with the support of the World Bank.
