Regulatory Alerts2014-03-07
Regulation of the Board of Directors of the Bank of Mongolia
The Governor of the Bank of Mongolia issued Resolution No. 501 to establish the operational framework, structure, and procedural bylaws for the Bank's Board of Directors. The regulation defines the appointment of members, voting rights, meeting schedules, and strict protocols for documentation, including concise and comprehensive minutes. It further delineates the Board's authority to discuss critical matters such as monetary policy, banking supervision, and financial institution licensing while enforcing accountability measures for non-compliance.
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