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.
