Amended draft laws handed over to the Bank of Mongolia www.montsame.mn
Ulaanbaatar /MONTSAME/ The amendments to Law on Central bank, Banking law and Bank Deposit Insurance approved at the 2017-0218 Parliament autumn session were handed over to the Central bank of Mongolia on March 22.
Parliament Speaker M.Enkhbold handed over the originals of the laws to the President of the Bank of Mongolia N.Bayartsaikhan.
President of the Bank of Mongolia N.Bayartsaikhan emphasized that the Bank of Mongolia initiated the mid-term Legal Reform Program on banking and financial sector to be implemented from 2016 to strengthen Mongolia's financial stability, address the economic difficulties and create a legal environment to support economic growth and announced 2018 as a year of banking and financial reform, implementing specific policy goals. He also expressed his gratitude to the people who participated in submitting the draft laws to the Parliament and supported Bank of Mongolia’s initiative to create a sound governance, optimal policy and regulations and favorable legal environment in the banking sector.
Under the mid-term legal reform program on financial sector, one new law and three amendments to relevant laws out of ten draft laws initiated by the Bank of Mongolia were approved.