NEWS
COMPILATION OF REGULATORY LEGISLATION PUBLISHED

8/25/2021

The Financial Regulatory Commission of Mongolia (FRC) is working to strengthen its institutional capacity under the Strengthening Fiscal and Financial Stability project. 

LEGAL FRAMEWORK ON VIRTUAL ASSETS SERVICE OF MONGOLIA IS IN THE MAKING

8/18/2021

Rapidly evolving technological advancements have drastically shifted the notion of financial services and financial markets. As a result, newly emerged financial products and related services such as blockchain, bitcoin, cryptocurrency, and virtual assets enable a global transfer of value using innovation and technology. 

IMPROVING THE LEGAL ENVIRONMENT OF GLASS ACCOUNT AND REDEVELOPMENT OF GLASS ACCOUNT PORTAL

8/11/2021

One of the main objectives of the Strengthening Fiscal and Financial Stability project and the Strengthening Governance in Mongolia project, jointly implemented by the Ministry of Finance of Mongolia, the European Union, and the World Bank, is to support the effective implementation of the Glass Account Law by improving the legal environment and revamping the Glass account portal.

THE MOF PLANS TO PRESENT THE DRAFT AMENDMENT TO THE LAW ON DEBT MANAGEMENT TO THE PARLIAMENT FOR RATIFICATION

8/4/2021

One of the key objectives of the "Fiscal and Financial Stability Strengthening Project" jointly implemented by the Ministry of Finance of Mongolia and the World Bank, is to improve the legal environment for debt management, medium-term debt management strategy, and create a reporting system for contingent liabilities.

SUCCESSFULLY IMPLEMENTED LIABILITY MANAGEMENT REDUCED DEBT PRESSURE AND SAVED COST OF INTEREST RATE

7/6/2021

The Ministry of Finance of Mongolia is working with the World Bank to strengthen debt management and external development financing, implementing the SFFS project. 

THE WORLD BANK IMPLEMENTATION SUPPORT MISSION WAS UNDERTAKEN

7/2/2021

The World Bank's implementation support mission of the Strengthening Fiscal and Financial Stability project and Strengthening Governance in Mongolia project was carried out on June 28 - July 2. The mission's primary objectives were to review the project implementation status, conduct discussions on actions to be implemented in the upcoming year, and provide implementation support and technical advice. 

REVISED THE REGULATION ON THE UTILIZATION OF GOVERNMENT FOREIGN LOAN PROCEEDS AND IMPLEMENTATION OF PROJECTS FUNDED BY THESE PROCEEDS

6/30/2021

The Ministry of Finance of Mongolia is working to improve the legal environment for development financing with the support of the “Strengthening Fiscal and Financial Stability” project of the World Bank. Within the framework of this objective, the “Regulation on the utilization of Government foreign loan proceeds, implementation, administration, financing, monitoring and evaluation of projects funded by these proceeds” has been revised and approved by the Finance Minister’s order # 4 dated January 11, 2021.

ONLINE MEETING WAS HELD TO INTRODUCE THE RESULTS OF RESEARCH AND RECOMMENDATION ON THE CURRENT SITUATION OF TRAINING ACCOUNTING PROFESSIONALS AT UNIVERSITIES IN MONGOLIA

6/23/2021

Within the framework of the "Strengthening Fiscal and Financial Stability project" jointly implemented by the Ministry of Finance of Mongolia and the World Bank, research was conducted on the accounting curriculums of universities and professional organizations in Mongolia and overseas to provide support for strengthening the capacity of the accounting professionals, and researchers. 


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