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Mongolian banks to share customer credit information |
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Monday, 07 July 2008 |
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An agreement has been reached
in which the country’s major banks will begin sharing credit information
on customers seeking loans.
Xas Bank, Khaan Bank, and the
Mongol Post Bank have announced they will work with each other to assure
the loan system remains safe by sharing credit information.
The country’s central bank,
Mongol Bank, is credited with initiating the program.
Observers note that setting
up the sharing of information is an indication of the growing sophistication
of the banking and business community in Mongolia.
Banking officials have said
that as the number of bank branches have increased throughout the country,
so has the volume of money being borrowed.
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