KhanLex has advised “Frankfurt School Financial Services” Gmbh, an asset management firm for development projects, on its USD 4.8 million loan to KhanBank LLC, Mongolia’s largest commercial bank. The loan will support expansion of KhanBank’s financing to private micro, small and medium-sized enterprises across Mongolia.
The loan also blends USD 20.0 million of BlueOrchard, a leading investment management company of Switzerland.
“We thank the “Frankfurt School Financial Services” Gmbh and its partners for financing the micro, small and medium-sized enterprises of Mongolia. Also, congratulations KhanBank on raising such long-term sustainable investment during these challenging times [of COVID-19 pandemic].” said Uchralbayar Iderkhangai, Partner, who led the KhanLex team on this deal.
Amendments to Banking Act of Mongolia seek to introduce important reforms to both the banking sector and the securities market
On January 29, 2021, the Parliament of Mongolia approved amendments to the 2010 Banking Act