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The Mongolian Bankers Association (MBA) is an independent non-profit and non-government organization which serves its members. MBA voluntarily unites local banks and other financial institutions which are involved in banking and financial activities in Mongolia.
Aimed at contributing to the development of Mongolia’s banking sector and creating the sector’s infrastructure, MBA has established the following institutions in association with its member organizations:
- The Banking and Finance Academy – to conduct training and capacity development programs on banking and finance;
- The Credit Guarantee Fund – to provide credit guarantee service;
- The Mongolian Mortgage Corporation – to develop first and second mortgage markets.
Since its establishment in 2000, MBA has managed to expand itself to a professional industry association through its membership. Now it includes 23 members: 14 local banks, The Development Bank of Mongolia, The Deposit Insurance Corporation, Japan’s Sumitomo Mitsui Banking Corporation’s Representative Office in Ulaanbaatar, Bank of Tokyo Mitsubishi UFJ’s Representative Office in Ulaanbaatar, UnionPay International, Credit Information Bureau LLC, The Mongolian Mortgage Corporation and some non-bank financial institutions including The Banking and Finance Academy and Credit Mongol.
In 2007, MBA started publishing its own newspaper and magazine with the aim of creating news and information flow among its member organisations and provide bank customers and the public with the latest news and information on a variety of events in the sector. At the moment, MBA provides news and information through channels including the online MBA email newsletter, the website www. mba.mn and social networks such as Twitter and Facebook.
As a professional association and a union of bankers and financial experts, MBA has established several professional councils. These councils enable staff and experts from member organisations to meet each other to share their knowledge and experiences, and develop professionally. Furthermore, councils have created an opportunity in which MBA members can work together by identifying the most urgent issues in the area and seeking solutions.
MBA’s everyday activities are conducted by a working group headed by the Chief Executive Officer in accordance with its Board’s decisions and the MBA President’s direction.
