FRC participates in Global Policy Forum

      From September 12 to fifteen, the World Coverage Discussion board of the Alliance for Monetary Inclusion (AFI) was held within the Philippines below the theme “For Sustainable and Inclusive Monetary Prosperity 2023”, by which Head of Monetary Regulatory Fee (FRC) D.Bayarsaikhan represented Mongolia. Organized by the Central Financial institution of the Philippines, the discussion board was attended by representatives of non-public sector, monetary regulatory organizations and central banks from greater than 60 international locations, the place they mentioned the right way to attain everybody within the fiscal sector, particularly susceptible teams. As well as, the assembly reviewed the work of the previous yr, authorized the principle path to be centered on within the coming yr, and mentioned the exercise report back to develop the exercise standing of the affiliation.

In the course of the convention, the representatives of the FRC participated within the conferences of seven working teams.

FRC PARTICIPATES IN EASTERN EUROPE AND CENTRAL ASIA’S POLICY INITIATIVE MEETING

The twelfth assembly of AFI’s Japanese Europe and Central Asia Coverage Initiative (ECAPI) was held. Head of FRC D.Bayarsaikhan opened the assembly and mentioned, “Regardless of the key challenges going through the world economic system and monetary market, I thank the member international locations of the ECAPI for his or her profitable cooperation within the path of enhancing monetary stability and strengthening monetary data. I’ll use all my efforts to strengthen the earlier achievements and intensify the longer term actions to extend monetary entry within the area.” On the assembly, the member organizations exchanged opinions on the challenges and methods to beat regulatory organizations in growing monetary entry, coverage adjustments, new initiatives, and measures on this space, and mentioned and authorized the motion plan for 2023 to 2025.

The Monetary Regulatory Fee was beforehand elected because the Alliance’s Board of Administrators twice and because the head of the Japanese Europe and Central Asia Regional Initiative from 2021 to 2023, and it was extremely valued by member international locations for its work of recent proposals and initiatives for regional coverage regulation based mostly on market growth traits and placement.

FRC PRESENTS POLICY MEASURES TO DEVELOP GREEN FINANCIAL INDUSTRY

The World Coverage Discussion board organized “For Sustainable and Inclusive Monetary Growth and Prosperity 2023” session. On the session, they exchanged opinions on good practices for growing monetary entry, figuring out coverage priorities, sustainable growth, and greening of the monetary sector in member international locations, and shutting the hole in monetary entry.

Head of FRC D.Bayarsaikhan, President of the Central Financial institution of Fiji Arif Ali, Director of Management Program Sara Buitoni, and Director of Technique and Finance of the Philippine Island Financial institution Eric Roberto M. Luchango participated as panelists on the session. A complete of 150 representatives from greater than 50 international locations participated on this department assembly and mentioned the right way to develop small and medium-sized industries in a inexperienced method, the right way to assist inexperienced insurance policies, and the right way to enhance the function of economic regulatory organizations. D.Bayarsaikhan mentioned coverage measures and initiatives carried out by Mongolia, together with the Monetary Regulatory Fee, within the context of growing an accessible and inexperienced monetary sector, the issues confronted by micro, small and medium-sized companies in acquiring inexperienced financing, and methods to resolve them. In presenting the expertise and additional growth, the members of the assembly emphasised that they’d research and alternate concepts from the expertise and strategies of the member organizations and expressed their cooperation on this path sooner or later.

As well as, on at the present time, a roundtable assembly was held below the theme of “Cooperation between the private and non-private sector to extend the participation of girls, youth and SMEs within the economic system”, and representatives of economic regulatory organizations, central banks or member organizations, and representatives of the non-public sector participated and exchanged opinions. On the similar time, all representatives have been divided into 4 subsections: “Synthetic intelligence”, “Younger entrepreneurs”, “Accelerating digital monetary providers”, “Rising monetary entry for individuals with disabilities”. They mentioned the right way to cut back and resolve the issues of economic entry going through younger entrepreneurs, micro, small and medium enterprises with the assistance of innovation and new initiatives, and the right way to coordinate with the insurance policies and supporting rules of AFI.