Modifications implemented in credit information reports for citizens and enterprises

In May 2025, the State Great Khural of Mongolia enacted amendments to the Law on Credit Information, transitioning from a classification-based system to a credit scoring model in line with international standards.

In accordance with the implementation of the law, the Bank of Mongolia has approved the relevant regulations. By Decree of the Governor of the Bank of Mongolia, amendments to credit information reports for individuals and businesses took effect on September 1, 2025. As a result, all data previously categorized as non-performing loans in the credit information database as of September 1, 2025, have been excluded from credit reports.

Beginning September 10, 2025, credit information providers, including banks and financial institutions, will assess the creditworthiness of individuals and enterprises using the new scoring system.

Commenting on the implementation of the law, Deputy Governor of the Bank of Mongolia G. Enkhtaivan stated:

“Previously, individuals and enterprises with poor credit histories were restricted from obtaining loans from banks and financial institutions for six years. With the introduction of the new credit scoring system, the concepts of poor credit history and ‘blacklists’ no longer exist. Creditworthiness is now assessed dynamically through scoring, providing a fairer evaluation of financial behaviour. Even if a person defaults and their score declines, resuming timely repayments will immediately improve their score in real time, allowing it to return to normal levels.”