J. Unenbat, Executive Director of
the Center for the Development of Corporate Governance, which is arranging the
Mongolia: Money and Markets forum for banking and financial organizations on
October 5-6, has said the banking sector is merely one of the several
components of the financial markets. In today’s Mongolia, banks account for
almost 95% of the total capital market, but this will change as capital markets
develop and expand, generating competition for the banking sector in matters of
investment.

The forum will discuss the various issues related to the growth of the capital
markets, both following from and contributing to economic growth. Banks will
have to take on a new role,that of intermediaries in transforming mineral
revenues into extended economic growth.