Deposit Insurance Corporation of Mongolia has received Award of Achievement in Banking Resolutions and Payouts from International Association of Deposit Insurers (IADI) by their achievement of restructuring State Bank. Savings Bank has merged with State Bank and State bank received total of 204.9 billion tugriks support and reasoned the financial sector stability. There are 77 members and this event helped the Mongolian banking sector to recognize at international level and increased the local people confidence.
Furthermore, by celebrating World Savings Day, Deposit Insurance Corporation of Mongolia has hosted the “Financial Open Day” along with Mongolian Banking Association and commercial banks. It was held at Blue Sky Tower on October 31st, 2014 and chosen 20 orphan children by their academic success and gave 50,000 Tugriks voucher.The special guest was Badarch. P and gave his books as a present and Oyun. L, Ph.D. and Professor in Economics, has gave speech about the importance of savings. All participants have received gifts and increased their financial knowledge.
It is the entity or the person who is holding current account and money accounts at the commercial banks.