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Amended Banking Act and Recapitalization Act seek to strengthen the regulatory and supervisory regime of Mongolian commercial banks

The Mongolian legislature has adopted the amended Banking Act on 18 Jan 2018. The amended Banking Act has become effective from 1 Apr 2018 (the “Amendments”).
The Amendments introduce several important new rules such as:

  1. Requirements applicable to shareholders, board directors, CEO and related parties,
  2. Resolutionoftroubledbanks,
  3. Prohibitionofsubsidiaries. …

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