Privately-funded stock exchange to be established
Privately-funded stock exchange to be established.
Privately-funded stock exchange to be established. A new privately funded stock exchange is planned to be established to support the private business sector and to contribute to Mongolia’s underdeveloped stock financing system. With a view to create domestic savings capital, a dozen local stock market experts have formed a ‘Capital Market Open Association’ NGO in order to establish Mongolia’s Capital Market Open Association. The new stock exchange will improve the quality of stock market products and services, reduce prices by increasing competition on the market, and increasing the level public participation. The association will operate as its membership policy is directed at the general public instead of acting as a professional body. Moreover, the association will work as a bridge to connect Mongolia with foreign investors, and organize business meetings and forums at global financial centers such as New York, London, and others. In the last 25 years, the structure of Mongolia's financial system has been dominated by commercial banks. As a result, domestic business enterprises had only one source for funding. It means the financial market is incapable to support the private business sector, as required.
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