FINANCIAL REGULATORY COMMISSION’S CHAIRMAN RECEIVED ADB REPRESENTATIVES

Mr. D.Bayarsaikhan (Chairman, Financial Regulatory Commission) received Mr Junkyu Lee (Chief, Finance Sector Group, Asian Development Bank), and other ADB representatives on 28 April 2023.

During the meeting, Mr D. Bayarsaikhan, conveyed his appreciation to the ADB for its comprehensive collaboration with the FRC Mongolia, and emphasized the significance of the Insurtech workshop (held on 27 April 2023) particularly that provided practical knowledge, good practices, and initiatives for promoting the development of insurtech in Mongolia.

Followed by a presentation on Strengthening Disaster Risk Financing in Mongolia presented by Mr. Arup Kumar Chatterjee (Principal Financial Sector Specialist, ADB), both sides expressed their interest to collaborate not only in the field of disaster risks but also in the other financial sector. In particular, the FRC conveyed its interest to cooperate with the ADB for enhancing legal and regulatory framework for disaster risk and exploring an appropriate utilization of InsurTech and advanced technology in introducing disaster risk scheme.