Boosting Banking and Financial Sector
With the introduction of new Securities Law (2014) and Investment Fund Law (2013), there are substantial potential high-growth opportunities for new investors in an emerging advanced financial products and services industry, given its high demand within the country.
Insurance, fund management, private equity, venture capital and new credit and loan products are all areas where foreign undertakings can participate in for high capital returns.
- 13 commercial banks
- 1 development bank
- 538 non-banking financial institutions
- 254 savings & credit cooperatives
- 54 brokerage houses
- 15 insurance companies
- 5 foreign banks have representative offices: ING, Sumitomo Mitsui bank, Tokyo Mitsubishi bank, Bank of China and Industrial and Commercial Bank of China are present in Mongolia. According to statistics, 90-95 % percent of financial sector assets are held by commercial banks.
