Delegates from the FRC and Central Bank lead by Mrs Z.Narantuya, Chairman of FRC have visited Japan during the 17-19th of this month. The delegates have visited Financial Services Agency, JAICA, Japan Exchange Group, JASDEC, Japan Securities Clearing Corporation and have discussed certain issues regarding the expansion of the financial sector cooperation of the two countries, especially to introduce Japan’s knowledge and experience for the development of Mongolian capital market.
For instance, within the framework of the MOU established between Mongolian FRC and Japan’s FSA, with the assistance of the JAICA, three parties are to launch the three year project that would strengthen the capacity of the Mongolian capital market. During the meeting, Mrs Z.Narantuya, Chairman of FRC and Mr Kiyoshi Hosomizo, Commissioner of the FSA have discussed in detail how to implement the project with maximum effect and what are the additional works required.
With the framework of the project works such as strengthening the policy planning, improving the research capacity, introducing the inspection system based on the risk, strengthening the Mongolian Stock Exchange and Securities clearing house as a self-regulatory organization, privatizing of the state owned companies via stock exchange, issuing of new securities, supporting the companies that are able to have double listing on the Japanese stock exchange.
In addition, the JASDEC and Japan Securities Clearing Corporation shall methodologically support the separate functioning and coordinating to the international standards of the Securities clearing house and central depository. Whereas, Tokyo Stock Exchange and Commodity Exchange have have expressed their intention to support Mongolian Stock Exchange and Agricultural Stock Exchange and to be newly established mining Stock Exchange.