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The State Bank
The State bank ( mn, Төрийн банк, translit=Töriin Bank) was established by government of Mongolia from the assets of 2 failed banks, Anod Bank and Zoos Bank, of Mongolia in November 24, 2009. It has about 201 to 500 employees. In July 2013, the government of Mongolia combined the 5th-largest bank, Savings Bank, with the State Bank after Savings Bank failed due to a large bad loan to its parent company, Just Group, and previous losses from acquiring Mongol Post Bank, at a cost to the state of $122 million. All 503 branches and 1.7 million customers were transferred to State Bank. Locations * Headquarters: Baga toiruu 7/1, 1st khoroo, Chingeltei District, Ulaanbaatar See also * Bank of Mongolia The Bank of Mongolia, or Mongolbank (), is the central bank of Mongolia. The main objective of the Bank of Mongolia is to ensure stability of the Mongolian tögrög. Within its main objective the Bank of Mongolia promotes balanced and sustained ... * Zoos Bank Notes Ext ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ulaanbaatar
Ulaanbaatar (; mn, Улаанбаатар, , "Red Hero"), previously anglicized as Ulan Bator, is the capital and most populous city of Mongolia. It is the coldest capital city in the world, on average. The municipality is located in north central Mongolia at an elevation of about in a valley on the Tuul River. The city was originally founded in 1639 as a nomadic Buddhist monastic center, changing location 28 times, and was permanently settled at its current location in 1778. During its early years, as Örgöö (anglicized as Urga), it became Mongolia's preeminent religious center and seat of the Jebtsundamba Khutuktu, the spiritual head of the Gelug lineage of Tibetan Buddhism in Mongolia. Following the regulation of Qing-Russian trade by the Treaty of Kyakhta in 1727, a caravan route between Beijing and Kyakhta opened up, along which the city was eventually settled. With the collapse of the Qing Empire in 1911, the city was a focal point for independence efforts, leading ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Mongolia
The Bank of Mongolia, or Mongolbank (), is the central bank of Mongolia. The main objective of the Bank of Mongolia is to ensure stability of the Mongolian tögrög. Within its main objective the Bank of Mongolia promotes balanced and sustained development of the national economy, through maintaining the stability of money, financial markets and the banking system. History A joint Mongolian-Russian bank, called the "Trade and Industry Bank of Mongolia" (Bank of Mongolia) was opened on June 2, 1924 in Altanbulag with a single branch. At that time, the bank's capital was 260000 yanchaan (the currency of the period). It operated with 22 employees, 18 of which were Russian specialists and 4 of them were Mongolian. At the start, the joint bank was called by two names, "Trade and Industry Bank of Mongolia", and the "Bank of Mongolia", but it was named the Bank of Mongolia in official papers and documents. Due to the absence of a national currency, the bank faced difficulties in f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mongolia
Mongolia; Mongolian script: , , ; lit. "Mongol Nation" or "State of Mongolia" () is a landlocked country in East Asia, bordered by Russia to the north and China to the south. It covers an area of , with a population of just 3.3 million, making it the world's most sparsely populated sovereign nation. Mongolia is the world's largest landlocked country that does not border a closed sea, and much of its area is covered by grassy steppe, with mountains to the north and west and the Gobi Desert to the south. Ulaanbaatar, the capital and largest city, is home to roughly half of the country's population. The territory of modern-day Mongolia has been ruled by various nomadic empires, including the Xiongnu, the Xianbei, the Rouran, the First Turkic Khaganate, and others. In 1206, Genghis Khan founded the Mongol Empire, which became the largest contiguous land empire in history. His grandson Kublai Khan conquered China proper and established the Yuan dynasty. After the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zoos Bank
Zoos Bank was Mongolia's sixth largest privately owned commercial bank. It was delisted on the 6th of April 2021. Company Profile Since it was founded in May 1999, Zoos Bank provided commercial banking services and appointed an American national as its CEO in July, 2009. Mr. Benjamin Turnbull, well experienced in Mongolian banking, was appointed by The Governing Board of the bank and European Bank for Reconstruction and Development (EBRD) which was the major stakeholder Stakeholder may refer to: *Stakeholder (corporate), a group, corporate, organization, member, or system that affects or can be affected by an organization's actions *Project stakeholder, a person, group, or organization with an interest in a proje ... of the bank owning 25 percent plus one share. Zoos Bank had loaned MNT 60 billion to Mongol Gazar Holdings which later caused financial difficulties. The Governor of Mongol Bank (Central Bank), Mr. Purevdorj announced the Government's decision to take over Zoos Ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Mongolia
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 2009
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In Ulaanbaatar
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
