The International Monetary Fund consultants Philip Johnson and Mimi Ho are working in Mongolia at the invitation of Chairman of the Financial Regulatory Commission S.Davaasuren. In the week of December 04-10, they will conduct a preliminary study for a project to strengthen capacity of financial regulatory organizations, assessing their current capacity and determining necessary technical assistants.
At the beginning of their work, Deputy Chairman of the FRC D.Bayarsaikhan received the IMF consultants and informed them about general situation of non-bank financial institutions, range of control and inspection and FRC strategy and policy.
Mr Philip Johnson and Ms Mimi Ho have previous experiences working in Mongolia. They will study work load, capacity and performance quality of the FRC departments and its units as well as they plan to meet representatives of regulatory institutes running operation in non-banking financial sector, exchanging ideas on facing problems and their solutions in securities, insurance, non-bank financial, savings and credit cooperatives markets.