According to the Law on Non-Banking Financial Activities of Mongolia, NBFIs that fulfill certain requirements set by the FRC are allowed to conduct “Trust service” which works very similar to bank savings. However, the product scope is very limited in terms of marketing the product and amount which can be raised. Since obtaining the license in 2014, we started attracting clients who seek flexibility and high return on their savings. As of the end of 2015, our trust service portfolio amounted at MNT855 million. Furthermore, based on our clients’ requests, we designed and introduced the “Trust backed loan” product in 2015.
|Trust service minimum fund||3,000,000 MNT|
|Trust service maximum fund||100,000,000 MNT|