EBRD publishes “Assessment of Reorganisation Procedures in Insolvency” report

The recent Covid-19 crisis has highlighted the importance of insolvency and reorganisation frameworks to support businesses in financial difficulties. In response, EBRD carried out a Business Reorganisation Assessment of national insolvency frameworks to provide an overview of business reorganisation practices and to propose areas where further development of national legislation is needed. The Assessment was […]

Q&A Paper summarizing the content of the “COVID-19: Legal Response” webinars is published

“The European Bank for Reconstruction and Development (“EBRD”) launched the initiative “COVID-19 Crisis Response – Provision of Emergency Legal Advice to Small and Medium Enterprises in Mongolia” to enable small and medium-sized enterprises (“SMEs”) in Mongolia to mitigate the deepening impact of the coronavirus pandemic. This initiative, among others, organised a series of three webinars, funded by […]

Proposed Amendments to the Banking Law of Mongolia May Kick-start Landmark Reforms

In August 2020 a bill proposing amendments to the 2010 Banking Act of Mongolia has been presented to the Parliament of Mongolia. If adopted, the amendments would introduce some sweeping reforms not only to the banking industry, but also to the Mongolia’s capital markets. Our summary highlights some of the key features of the proposed […]

Draft Law on Non-Banking Financial Activities needs further refining

In July 2018, the Financial Regulatory Commission of Mongolia (“FRC”), regulator of NBFIs, published a text of the draft Law of Mongolia on Non-Banking Financial Activities (“Draft Law”). The Draft Law is dated 13 June 2018 and posted on the FRC’s website (www.frc.mn). If and when adopted, the Draft Law is meant, to replace the […]

Proposed amendments to the minerals law of Mongolia

The current Minerals Law of Mongolia was first adopted in 2006 (and amended several times since then) (the “Minerals Law”). Earlier this year, a draft law proposing certain amendments to the Minerals Law, prepared by the Government of Mongolia (the “Draft Law”), is being discussed in the State Great Khural of Mongolia (the “Parliament”). On […]

KhanLex issues recommendations to improve Mongolia’s legislation for NPL resolution

KhanLex has published a report – “Mongolia: Strengthening the Legal Framework for Non-Performing Loans Resolution and Debt Restructuring – Gaps in Mongolian laws”. The report was commissioned by EBRD’s Legal Transition team and contains in-depth review of key existing laws governing resolution of non-performing loans in Mongolia. The report identifies gaps and recommendations for necessary […]