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A draft of amendments to the Law on Banking has been submitted by Parliament Members G. Zandanshatar and M.Oyunchimeg to the head of Parliament on friday.
The amendments would reform current bank regulation and supervision. Revising the requirements and qualifications expected of a bank's founders, shareholders, board members, and board of directors; developing credit history; limiting the scope of bank contracts with clients; reviewing bank asset quality; examining risk management; and determining other new requirements differently would be required under the proposed amendments.
A draft of amendments to the Law on Banking has been submitted by Parliament Members G. Zandanshatar and M.Oyunchimeg to the head of Parliament on friday.
The amendments would reform current bank regulation and supervision. Revising the requirements and qualifications expected of a bank's founders, shareholders, board members, and board of directors; developing credit history; limiting the scope of bank contracts with clients; reviewing bank asset quality; examining risk management; and determining other new requirements differently would be required under the proposed amendments.