A new non-profit organization, named the Mongolian Sustainable Finance Association (MSFA), has been formed by the Mongolian Bankers Association (MBA) in a bid to bring together various financial sector players to direct investments for real progress in sustainable development.
The MSFA started its operations from January 1, 2018 with the aim to expand sustainable finance into other parts of the financial sector, creating a national green investors’ network.
Apart from banks, the association’s principal membership is open to commercial and development banks, microfinance institutions, insurance companies, and institutions operating in the capital market. The MSFA will also closely collaborate with international organizations, universities, the media and civil society organizations to create cross sector linkages and cohesive action to promote the role of finance in sustainability.
The MSFA steering committee is chaired by Ms. Otgonbileg D, Deputy CEO of the Trade and Development Bank of Mongolia – ToC Lead Organization of 2018, and consists of members including Mr. Unenbat J, CEO of MBA, Mr. Tumurkhuu D, CEO of Arig bank, Mr. Ganbold G, President of Golomt bank, Mr. Amartuvshin H, President of Xac bank, Ms. Oyunkhand N, Head of Operational Risk Management of Khan bank, Ms. Munkhjargal E, CRO of Capitron bank, Ms. Enkhjargal A, CRO of Bogd bank, and Mr. Naidalaa B, Advisor of the Mongolian Green Credit Fund Project.
The association will primarily work in the areas of developing and updating sustainable finance frameworks and policies, providing guidance and tools, monitoring members’ performance, leading policy dialogues, implementing capacity building activities, sharing international best practices and supporting the development of green finance. Furthermore, it will engage and cooperate with international and local partners to spearhead various projects and initiatives aimed at bringing systemic change in finance.
“The establishment of the MSFA signals more partnership in the area of sustainable finance. Therefore, we invite all interested stakeholders to engage with us to undertake joint activities that would enhance the role of finance in green and inclusive growth,” said Ms. Otgonbileg D, Steering Committee Chair of the MSFA.
As for the management of the newly established Association, Ms. Nomindari Enkhtur has been appointed as the Chief Executive Officer. She has worked on the Mongolian Sustainable Finance Initiative since its inception in 2013 and helped banks to integrate environmental and social considerations into lending decisions and product design.
“The MSFA marks an important milestone for Mongolia’s sustainable finance journey. The need for this unique platform arose from the growing recognition to adopt a market-wide approach to mobilize finance for sustainability. Furthermore, the MSFA will promote international knowledge exchange with other countries with the vision to become a sustainable finance knowledge and leadership center in the region,” said Ms. Nomindari.
A new non-profit organization, named the Mongolian Sustainable Finance Association (MSFA), has been formed by the Mongolian Bankers Association (MBA) in a bid to bring together various financial sector players to direct investments for real progress in sustainable development.
The MSFA started its operations from January 1, 2018 with the aim to expand sustainable finance into other parts of the financial sector, creating a national green investors’ network.
Apart from banks, the association’s principal membership is open to commercial and development banks, microfinance institutions, insurance companies, and institutions operating in the capital market. The MSFA will also closely collaborate with international organizations, universities, the media and civil society organizations to create cross sector linkages and cohesive action to promote the role of finance in sustainability.
The MSFA steering committee is chaired by Ms. Otgonbileg D, Deputy CEO of the Trade and Development Bank of Mongolia – ToC Lead Organization of 2018, and consists of members including Mr. Unenbat J, CEO of MBA, Mr. Tumurkhuu D, CEO of Arig bank, Mr. Ganbold G, President of Golomt bank, Mr. Amartuvshin H, President of Xac bank, Ms. Oyunkhand N, Head of Operational Risk Management of Khan bank, Ms. Munkhjargal E, CRO of Capitron bank, Ms. Enkhjargal A, CRO of Bogd bank, and Mr. Naidalaa B, Advisor of the Mongolian Green Credit Fund Project.
The association will primarily work in the areas of developing and updating sustainable finance frameworks and policies, providing guidance and tools, monitoring members’ performance, leading policy dialogues, implementing capacity building activities, sharing international best practices and supporting the development of green finance. Furthermore, it will engage and cooperate with international and local partners to spearhead various projects and initiatives aimed at bringing systemic change in finance.
“The establishment of the MSFA signals more partnership in the area of sustainable finance. Therefore, we invite all interested stakeholders to engage with us to undertake joint activities that would enhance the role of finance in green and inclusive growth,” said Ms. Otgonbileg D, Steering Committee Chair of the MSFA.
As for the management of the newly established Association, Ms. Nomindari Enkhtur has been appointed as the Chief Executive Officer. She has worked on the Mongolian Sustainable Finance Initiative since its inception in 2013 and helped banks to integrate environmental and social considerations into lending decisions and product design.
“The MSFA marks an important milestone for Mongolia’s sustainable finance journey. The need for this unique platform arose from the growing recognition to adopt a market-wide approach to mobilize finance for sustainability. Furthermore, the MSFA will promote international knowledge exchange with other countries with the vision to become a sustainable finance knowledge and leadership center in the region,” said Ms. Nomindari.