Khas Bank and Trade Development Bank Shares RegisteredEconomy
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.
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.