Japan Fund for Poverty Reduction Project (JFPR), Asian Development Bank

Implementing agencies: FRC and MSCC

Duration: January 2012-2015

purpose:

1) Capacity building and development of  Savings and Credit Unions;

2) Promoting inclusive financial services through enhancing public financial knowledge.

Approach in the framework of 1st purpose:

1. shall be developed implementation of SCC's regulations and supervision ;

2.  shall have been rated, granted special licenses, and evaluated SCCs;

3. to use new methodology to enhance capacity and stabilize activities of SCCs;

Current result of above-mentioned purposes are as follows:

1. SCC's renewed regulations and supervision systems  – 38%

2. Supervising in all local soums  – 30%

3. Capacity evaluation and trainings of SCCs - 80%

Approach in the framework of 2nd purpose:

1. Basic financial education for adults by TV program and message; 

2. Evaluating random-sampling, and evaluate reality in-time;

Current result of second purposes are as follows:

1. Basic survey of financial education and financial education messages - 100%

2. Financial education Wiki – 25%

3. TV serial  – 100%

Financial Sector Capacity Building and Training Project MON/004 of Luxembourg Development Agency (LUX-DEV)

Project name: "Financial Sector Capacity Building and Training MON/004" Project by Luxembourg Development Agency

Implementing Agency: Luxembourg Development Agency (LUX-DEV)

Implementation period: 2011.01-2015.12

Purpose: The project's primary objective is  capacity building in regulation and supervision to promote the development of a sound financial system, effective implementation of a regulatory and supervisory framework, and compliance with international best practices.

Goals:   

  • Enhancing financial sector confidence,
  • Enhancing public financial education,
  • Protecting rights of financial sector participants,
  • Reducing financial crime,
  • Stabilizing Financial Regulatory Commissions operations

Approach:

  1. Develop legal environment of financial market,
  2. Enhance public and market participants financial education,
  3. Legal consulting and participate in judge on behalf of public and legal entities,
  4. Provide enforcement of law and legislations, and develop supervision on market participants,
  5. Policy- making on human resource and elaborating operational strategy of FRC

Implementing organizations:

  • Financial Regulatory Commission
  • Ministry of Foreign Affairs of Grand Dutch of Luxembourg, Financial Technology Transfer Agency of Luxembourg

Implemented actions in the framework of project:

  • In the framework of developing legal environment, hired consultants on regulations and guidelines following Securities Market Law and Investment Fund Law,
  • In the framework of enhancing public and market participants financial education, organized trainings and published financial education books and guidelines of regulations,
  • Elaborated FRC's operational strategy,
  • FRC Human resource policy have been made.‚Äč

Project for Capacity Building of Capital Market in Mongolia, JICA


Duration: 2014-2017

Purpose: To develop active primary market at the MSE by increasing IPO for unlisted Mongolian companies with sound fundamentals, as well as promiting dual-listing for those in overseas stock exchanges; thereby  imporoving market confidence.

Objectives: Capacity building market participants, and developing regulations on capital market.

outcomes:

  1. Effective Policy Committee for vitalization of of the capital markets,
  2. Improving FRC's capacity for regulation and supervision of capital markets,
  3. Writing a concept paper of SRO,
  4. Increasing IPO and promoting dual-listing, as well as,
  5. Enhancing financial literacy of general public.

Implementing otganizations:

On Mongolian side: FRC, MSE

On Japan side: JICA, FSA, JPX, and consultants

The project to meet international standards of Commodity Exchange


            

Executing organization: Alliance for Financial Inclusion (AFI)

Duration: 2015

Project purpose: Starting Commodity Exchange activities and providing stable operations

Prioject Objectives:

  1. Study experiences of commodity exchanges in India, Pakistan and Ethiopia;
  2. Participate in annual conferences and related meetings;

Activities:

FRC staff members will study experiences of commodity exchanges in India, Pakistan and Ethiopia, and introduce one suitable for mongolia.

Multi-sector Technical Assistance Project (MSTAP) of World Bank

 

Exectuting agency: World Bank

Duration: 2011-2016

Purpose: In the framework of capacity building of the FRC, to improve the legal environment of the Securities and Insurance market, meet international standards, and organize training for FRC staff members. For capacity-building of FRC human resource, organizing training programs for financial markets participants.

Our puts: During the project, hired foreign and local consultants, and the following regulations were approved for the direction of improving legal environment of Securities market law and legislation:

  1. Regulation on Registration” \Approved by the decree No. 06 of January 15, 2014\
  2. Regulation on information and transparency” \Approved No. 505 of December 12, 2013\
  3. Regulation on prohibition of trade using internal information and misuse inforamtion in market” \Approved by the Decree No.05 of January 15, 2014\
  4. Regulation on setting active compound of investment fund and proper ratio indicator” (Delayed)
  5. Regulation on calculating and evaluating investment fund active” (Delayed)
  6. Guideline for Investment fund financial reporting preparation” (Delayed)
  7. Regulation on Establishment of private investment fund and registering documents" \Approved by the Decree No.175 of May 21, 2014\
  8. Regulation on establishment of Joint Invesment Fund and granting special license of joint investment fund" \Approved by the Decree No. 05 of January 15, 2014\
  9. Regulation on Private investment fund activity” \Approved by the Decree No. 436 of December 11, 2014\
  10. Regulation on Joint investment fund activity” \Approved by the Decree No.437 of December 11, 2014\

In the framework of providing financial stability and developing infrastructure, researched basic re-insurance market, enforced Securities market law, and approved regulations meet international standards.

Technical Assistance for Developing Securities Market Strategy 2020 Project, World Bank and Korea Trust Fund

Duration: 2014-2016

Purpose: Developing healthy and diversified Mongolian financial sector

With in the framework of the above-mentioned project, the objectives included:

  1. Preparing implementation plan to develop capital market, and defining its outline;
  2. Capacity-building of FRC supervision, and enforcement of legislation;
  3. Improving productivity of FRC supervision;
  4. Capacity-building of FRC, MOF, MSE, and supporting development of FRC .