Mongolia

Khan Bank of Mongolia, J. Peter Morrow, CEO

1. What makes your country attractive to investors?

Mongolia is the only true democracy in central Asia. It is a young country committed to free markets with a wealth of mineral and natural resources.

 2. What are the economic prospects for your country over the next three to five years?

The country is growing very rapidly from a small base. GDP growth last year of 11% was the fastest in Asia. Prospects are for more of the same.

 3. How do you foresee the financial sector in your country changing?

Banking is growing rapidly from a small base. We are leagfrogging old technologies and the sector will consolidate around a few strong players.

 4. What role will your bank play in your country’s future development?

As the only bank with countrywide branches used by 62% of Mongolian households, Khan Bank of Mongolia will continue to bring all banking services to small businesses and households, while serving as the main payment channel for businesses and non-governmental organisations (NGOs) operating in the country.