The Fifth Annual General Meeting of
the Association of Mongolian Banks held last month re-elected  B. Medree as President and M. Bold as
Executive Director for another year. The President’s report detailed how the
Association had been focusing on policy issues such as outlasting the global
financial and economic crisis with minimum damage, interacting with the government
to enable the banking sector to devise and offer services according to
international standards, and keeping authorities informed of members’ views on
the state monetary and economic policy, and on laws and regulations.

The Association also worked for reducing costs of duplication in banks’
operations, installing an integrated credit information database system, and
having an integrated online center to introduce a single service standard.