5th Asian Fixed Income Summit concludes in Ulaanbaatar
The 5th Asian Fixed Income Summit aimed at reaffirming the importance of secondary housing finance in bridging the capital market to money market, concluded in Ulaanbaatar on July 2.
The summit was organized by the Mongolian Mortgage Corporation HFC LLC in cooperation with the Ministry of Construction and Urban Development, the Ministry of Finance as well as the Financial Regulatory Commission under the theme of “Housing Policy and Financial Solutions”.
The event has been held alternately among seven members of the Asian Secondary Mortgage Market Association (ASMMA). The event will be attended by more than 300 participants including the bank’s executives, pension funds, insurance companies, financial institutions, financial authorities and investors in Asia.
A panel discussion with foreign experts, Minister of Construction and Urban Development Kh.Badelkhan, Deputy Minister of Finance Kh.Bulgantuya, and member of the Monetary Policy Commission Ch.Khashchuluun participated in a panel discussion on secondary housing finance.
ASMMA was established in 2014 with Mongolia, Malaysia, Japan, South Korea, Thailand, Kazakhstan, Indonesia, and the Philippines as members.
“The mortgage program implemented in Mongolia is a good joint public-private venture that encompasses banks and other relevant parties while also reducing risk in the financial market. It is a productive program that provides housing to Mongolian citizens quickly and supports low to midincome families,” said Ananta Wiyogo, president of ASMMA.
At a time when the eight percent mortgage program in Mongolia has met an uncertain future, industry experts and analysts underline the importance of organizing such a summit in order to find solutions.
On the sidelines of the summit, Mongolian Mortgage Corporation HFC LLC signed a memorandum of understanding with Korea HousingFinance Corporation. The agreement is aimed at supporting the housing market and housing finance jointly. The two companies will enhance their cooperation, specifically finding solutions to problems in the market, as well as sharing experiences and know-how.