Regular session XI of International Microfinance Center was held successfully between 29 and 31 on May in Ulaanbaatar. Over 500 delegates from 40 countries and representatives of Mongolian banks, international microfinance organizations, investors, experts and professionals attended the Conference, held under the auspice of the President of Mongolia, for three days. In framework of the Conference, which aims to provide complex financial services to poor families and micro-businessmen and supports microfinance sector, branch conferences were held in 4 four halls of the State Palace on economic conditions and state of Mongolia, consumer rights, business sector, financial education provided to the people, new financial products based on to date advanced technology, governance and financial transparency.
On the second day of the Conference, a ceremony of signing on an agreement of investment and cooperation was held encouraging activities of XAC Bank of Mongolia which leads microfinance sector of the nation from the very first date of its establishment. International Minlam microfinance foundation, responsibility Global microfinance foundation, Wincor Nixdorf and domestic companies including Mobicom, Skytel, Unitel and G-Mobile attended the ceremony. By composing this agreement which would bring investment of USD 22 million further possibilities for extending cooperation and relations with foreign companies that operate in microfinance sector will be opened.
Kazakhstan competed with Mongolia for the eligibility to hold this Conference, which was held for the first time in Asia, however XAC Bank grabbed the opportunity to hold the Conference in the country as a model of successful example to other countries in terms of developing microfinance successfully for a short period of time. International microfinance Conference XI was held effectively in Mongolia at a very high level.