Professional Documents
Culture Documents
Mongolia:
Current state and
Batpurev A.
Possibilities
Financial Regulatory Commission
Current
state
New
services &
Regulator
Financial
y reform
instrumen
ts
Policy
reform
?
GDP growth
rate
Market cap
growth
0.72%
Variables
2012
Total asset
Total compensation
Reserve fund
79.0
93.9
0.70%
180
160
140
0.66%
0.66%
0.64%
0.62%
100
81.3
107.6
126.4
152.5
146.9
80
60
40
0.58%
20
0.56%
2011
2012
2013
Mandatory
insurances
120
0.64%
0.60%
66.1 15,3%
126.4
0.68%
0.62%
57.3
2013
107.6
48.2
0.70%
26.5
YoY
Growt
h
152. 20,6%
5
108. 15,8%
7
31.5 18,9%
201
4
2014
2015.I
378
350
600
80.5
500
209
179
139
137
212
177
182
179
132
195
162
212
67.7
159
141
61.9
508.0
381.1
48.8
250
73.8
200
200
100
300
263
400
300
400
51
41.7
44.6
15.6
69.2
35.6
66.4
78.5
96.5
2006
2007
2008
2009
205.4
100
252.1
50
128.6
2010
2011
150
2012
2013
2014
-
Assets of NNBFIs
/MNT
bln/ /./
Asset of S&C Unions /MNT
- /./
bln/
Number
of SCUs
Number of NBFIs
-
73
638
1013
537
2097
67
833
3178
2,837.26
179.32
140.00
36.10
2013
Traded at MSE
2014
270.00
2015.Q1
Traded at MongolBank
Regulatory reform
Concept of developer with regulation rather than
supervisor
Business service oriented internal strategy and
organizational structure
Risk based supervision
Projects to support intermediaries with donors
Initiatives to improve market infrastructure;
MIT
CCP
Market data base
Policy reform
New securities law and Investment fund law and following
regulations
Tax incentives in fund industry
Corporate governance program and reform in state owned
companies
Privatization of MSE and Commodity Exchange
Law on Metals exchange
Financial market development program until 2020
proposes supportive legal and tax environment for
securities and insurance business
Mission 2020
Areas of activities
Objectives to be achieved:
- Supporting the real
economic growth through
long-term investment
structure;
- Expanded growth
inclusiveness;
- Converting the long-term
social and economic
projects, such as industrial
and infrastructure, into
financial products so that
private sector participation
will increase;
- Decreased investment cost;
- Establishment of
consolidated financial
supervision structure so that
systematic risk will decrease;
2015-2016
Pre-conditions
To develop the
financial infrastructure
necessary for financial
market to meet
international
standards;
Improve the legal and
regulatory
environment and
enhance cooperation
of relevant government
organizations;
Strengthen domestic
financial market
participants and
intermediaries;
Capacity building of
regulatory bodies;
To create consolidated
supervision of the
market.
Development phase
Increase market
capitalization and trading
volume of capital
markets;
Increase the types of the
financial market products
and their liquidity and
interconnectedness;
Attract the national and
international investment
institutions and create
sustainable base for
broader ranges of
investors;
Establish transparency;
improve corporate
governance and rights of
investors based on
mutual trust.
2019-2020
Matured market