GOVERNOR OF THE BANK OF MONGOLIA MEETS WITH THE REPRESENTATIVES OF SOUTH KOREA’S LARGEST COMMERCIAL BANKS

Governor Lkhagvasuren during his trip to Seoul, the Republic of Korea held a number of meetings with leading domestic commercial banks to encourage them in expanding their operations and establish a presence in Mongolia.

It was highlighted that the regulatory framework for the establishment of foreign bank’s subsidiary and/or branch has been finalized and with the rapid expansion of South Korean businesses in the retail, services, tourism, and airline industries of Mongolia, it is the right momentum for the banks to enter Mongolian banking sector.