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Mongolia’s Financial Regulators Embrace Global Best Practices

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Ulaanbaatar, MONGOLIA - A Commitment to Advancing Financial Inclusion and Stability

The Financial Regulatory Commission of Mongolia (FRC) has solidified its commitment to advancing financial inclusion and stability in the country by actively engaging with the global community. As a principal member of the Alliance for Financial Inclusion (AFI), FRC has taken a proactive stance in promoting regulatory best practices that benefit both consumers and institutions.

Leadership and Progress Under Chair Bayarsaikhan Dembereldash

Under the leadership of Chair Bayarsaikhan Dembereldash, a seasoned expert who previously served on AFI’s board of directors, FRC has made significant strides in achieving key objectives outlined in the Maya Declaration. This comprehensive framework sets out 20 targets aimed at enhancing financial services, protecting consumer rights, and promoting economic growth.

Key Objectives

• Enhancing financial services
• Protecting consumer rights
• Promoting economic growth

FRC’s Commitment to Capacity Building Initiatives

FRC’s dedication to these goals is evident in its participation in various AFI working groups, where it actively collaborates with fellow regulatory bodies to share knowledge, expertise, and experiences. The institution has been recognized as the “most engaged” member in 2018, reflecting its strong commitment to capacity building initiatives and regional/global events.

Resources for Further Information

FRC’s website provides further information on its activities and initiatives, offering a wealth of resources for those interested in learning more about financial regulation in MONGOLIA.