The Standing Committee of Economy discussed the appointment for the positionof vice president of Mongol Bank at a meeting today. N.Zoljargal, the president of Mongol bank, suggestedE.Batshugar.  E.Batshugar was born in Ulaanbaatar in 1987 and he studied at the city`s 14th secondary school from 1994 to 2000 and obtained a secondary education in the US from 2000 to 2004.  He then went on to graduate as an economist and financier from the University of Bentley, also in the US.  After graduation he worked as a financial expert for J.P. Morgan from2008 to 2010, as the executive director of Sod Margad LLC from 2010 to 2012, and he is now currently holding the position of secretary for foreign affairs at MPRP.E.Batshugar’sfather,N. Enkhbaya, is the ex-president and the Chief of MPRP. The president of Mongol Bank N. Zoljargal stated that he made his decision to appoint E.Batshugar based on his knowledge, qualifications, skills, and experience.

When asked by MP T. Oyungerel what he had to say about the Mongolian financial system and banks,E.Batshugar replied that while he took part in financial activities mostly oriented to the financial market to estimate a company’s value and to raise capital,he has observed the activities of banks in Mongolia. He also noted that regularly assessing a bank’s policies and measures is essential. 

MP S.Demberel suggested that E. Batshugarshould study Mongol Bank’s system and the surge of the exchange rate and inflation rate.  The chief of the Standing Committee of Economy, B.Garamgaibaatar asked E.Batshugar to helpN.Zoljargal, the president of Mongol Bank, to keep inflation rate above eight percent.  When MP’s discussed and agreed to appointE.Batshugar to vice president of Mongol Bank there were no objections.