During FRC meeting held yesterday discussions were made on the changes to the Regulations on NBFI activities prudential ratio criteria and is monitoring.
The changes are directed at penetrating international approach and standards at NBFIs in Mongolia and strenghten their capacities.
FRC has stated that futher it will support micro-finance entities serving the poor part of the population, who are not eligible to receive financial services at the commercial banks.
FRC has suspended the licenses of the NBFIs which did not conduct any activities stated on their licenses. The NBFIs are Future Evolution LLC, UB Credit NBFI, San Credit NBFI and Fin Star Credit and Savings Union.
During FRC meeting held yesterday discussions were made on the changes to the Regulations on NBFI activities prudential ratio criteria and is monitoring.
The changes are directed at penetrating international approach and standards at NBFIs in Mongolia and strenghten their capacities.
FRC has stated that futher it will support micro-finance entities serving the poor part of the population, who are not eligible to receive financial services at the commercial banks.
FRC has suspended the licenses of the NBFIs which did not conduct any activities stated on their licenses. The NBFIs are Future Evolution LLC, UB Credit NBFI, San Credit NBFI and Fin Star Credit and Savings Union.