The MBA is an industry association that voluntarily unites local and global banks and other related financial institutions which are engaged in banking and financial business activities in Mongolia. The role of the MBA is to represent the interest of the banking sector and serve its members as a sounding board of policy discussions.
Aimed at contributing to the development of Mongolia’s banking sector and creating a supportive policy environment and financial infrastructure, MBA has established the following institutions in cooperation with its member organizations:
As a professional industry association and a union of bankers and financial experts, MBA has established several professional councils. These councils enable staff and subject experts from member organizations to have regular meetings to share their knowledge experiences, and to discuss current banking and financial sector updates. Furthermore, professional councils have created an opportunity for members to work together by identifying the most challenging matters in the banking sector and seeking the best solutions to those identified matters.
- Information security
- Information technology
- Customer service
- Human resource
- Online banking and payment
- Risk management
- Finance and accounting
- Corporate governance
MBA membership is not only limited to commercial banks, but it is also available to other organizations with similar services that are consistent with MBA’s vision and mission. Depending on their participation in MBA’s activities and engagements, the members are classified as follows:
- Principal member
- Supporting member
- Associate member
Principal members include legal entities that obtained their licences from the Bank of Mongolia for the purpose of running commercial banking activities in Mongolia, and branches of foreign banks in Mongolia.
Supporting members include representative offices of foreign banks in Mongolia, other similar legal entities whose services and work are closely related to banking system
Associate members include organizations which cooperate with the MBA in the areas of training, research and other activities related to the development of the principal member organizations, reducing their risks and improving their operations. These organizations provide the opportunity for principal member organizations to improve professional skills through training, research support and other means of supporting roles.