Khas Bank and Trade Development Bank Shares Registered

Economy
s.enkhbat@montsame.gov.mn
2023-05-15 12:02:56

Ulaanbaatar, May 15, 2023 /MONTSAME/. The Financial Regulatory Commission (FRC) held its regular session on May 12 and decided to register ordinary shares of "Khas Bank" LLC and "Trade Development Bank" LLC for public offering.


As a result of the registration of the shares offered by the abovementioned two banks, all major banks have now completed the registration process of their shares as required by the Banking Law.


The successful fulfillment of the provisions outlined in the Banking Law, pertaining to the conversion of five influencial banks of the system into open joint-stock companies within the prescribed timeline, is indication of the effective implementation of the banking reform.


Consequently, the market value of shares is expected to grow with an increase in new highly liquid financial instruments and the enhanced engagement of foreign and domestic investors. Moreover, banking operations are also expected to become more transparent and open, enabling the creation of long-term financing sources and fostering a multi-pillar financial system.