Agreement signed to establish institute for bank employees specialization
The signing ceremony of the ‘Cooperation Agreement’ was held today among the Bank of Mongolia, the Mongolian Bankers Association and the Federal Republic of Germany’s ‘Sparkasse’ bank fund.
Within the framework of ensuring the financial stability of Mongolia and developing the financial market, the Central Bank is implementing a ‘National Program for financial literacy’ in cooperation with governmental and non-governmental organizations.
Under this program, the cooperation agreement has been signed and the parties will work together to:
- Establish a professional ‘New Institute’ in Mongolia with the joint funding of the Federal Ministry for Economic Cooperation and Development, and implement a project to reform the Banking and Finance Academy;
- Develop standardized training and programs for bank employees of all levels;
- Set basic skills standards required to work in all occupations in the banking sector;
- Increase the availability and maintain quality of the ‘Combined theoretical and practical training for banking specialists’ that aims to promote the development of Mongolia's banking and financial sector; and expand the World Savings Day campaign.
‘Preparing bank specialists, introducing theoretical and practical joint training and World’s Savings Day in Mongolia’ joint project by the Bank of Mongolia, and the Federal Republic of Germany’s Savings bank’s international cooperation fund (Sparkasse bank fund) started in 2017. Today’s signing of the cooperation agreement provides an opportunity to preserve the results and experience of the project for a longer period of time and sustainability.
The signing ceremony was attended by Deputy Governor of the Bank of Mongolia G. Enkhtaivan, Ambassador of the Federal Republic of Germany to Mongolia Jorn Rosenberg, President of the Mongolian Bankers’ Association B. Medree, the association’s executive director L. Amar and Country Representative of Sparkasse bank fund in Mongolia Marcus Loch.