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2009-04-15
Representatives of the MBA and its member commercial banks met with the Minister of Justice and Home Affairs Ts.Nyamdorj
Justice and Home Affairs Minister Ts.Nyamdorj met yesterday with the representatives of 15 banks and 2 non-bank financial institutions who are members of the MBA. During the meeting were discussed such issues as legal and judicial problems, which are faced by the banks and non-bank financial institutions of Mongolia, and methods and ways of their solutions. There were two main directions for cooperation of the MBA with the MOJHA and the MBA members pointed out their readiness for cooperation to further develop the legal framework for banks and non-bank financial institutions as well as to renew the regulatory acts and guidelines, which are currently issued and implemented by government agencies. At the conclusion of the meeting Minister Ts.Nyamdorj said that it should be considered what to do with the law currently in effect. He further confirmedthe existence of some doubtful stipulations and gave directions to related officials to build a joint working group on the above issues.to . (This information is excerpts from the newspaper “Mongoliin Medee”, issue #54 dated 18 March 2009). |
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