On behalf of the Mongolian Mortgage Corporation, I wish you and your family a happy New Year.
We are a private sector financial institution that has been working for 16 years for the great cause of providing housing to citizens and developing the housing finance system. In the last eight years, due to cooperation with state authorities and commercial banks within the Affordable Housing Finance Program framework, more than 100,000 citizens became proud owners of homes with 8% and 6% interest rate mortgages and created happiness with their loved ones. MIK will continue providing Mongolian families with cheap mortgage financing in the coming years.
During the challenging years of the pandemic, the government decided to postpone the payment of mortgage loans five times for a total of 32 months in cooperation with commercial banks. The investors, the Bank of Mongolia, and commercial banks, which play a vital role in the smooth circulation of mortgage loans, have received more than 400 billion MNT in coupon payments in the form of cash and credit from the reserve fund of the SPCs. It is even more apparent during the pandemic that the model of the stable and accessible housing financing system we have established can bear the risk.
We retained the trust shown to us by foreign investors by fully paying off the balance of the 300 million USD loan brought from the international capital market in 2019. International standards of information security, risk management, and compliance systems have been implemented as an internationally recognized company to introduce best practices into internal operations.
Once again, I wish investors and partners who trusted and cooperated with us a happy new year.
Sincerely,
B. Gantulga
Executive Director
On behalf of the Mongolian Mortgage Corporation, I wish you and your family a happy New Year.
We are a private sector financial institution that has been working for 16 years for the great cause of providing housing to citizens and developing the housing finance system. In the last eight years, due to cooperation with state authorities and commercial banks within the Affordable Housing Finance Program framework, more than 100,000 citizens became proud owners of homes with 8% and 6% interest rate mortgages and created happiness with their loved ones. MIK will continue providing Mongolian families with cheap mortgage financing in the coming years.
During the challenging years of the pandemic, the government decided to postpone the payment of mortgage loans five times for a total of 32 months in cooperation with commercial banks. The investors, the Bank of Mongolia, and commercial banks, which play a vital role in the smooth circulation of mortgage loans, have received more than 400 billion MNT in coupon payments in the form of cash and credit from the reserve fund of the SPCs. It is even more apparent during the pandemic that the model of the stable and accessible housing financing system we have established can bear the risk.
We retained the trust shown to us by foreign investors by fully paying off the balance of the 300 million USD loan brought from the international capital market in 2019. International standards of information security, risk management, and compliance systems have been implemented as an internationally recognized company to introduce best practices into internal operations.
Once again, I wish investors and partners who trusted and cooperated with us a happy new year.
Sincerely,
B. Gantulga
Executive Director
On behalf of the Mongolian Mortgage Corporation, I wish you and your family a happy New Year.
We are a private sector financial institution that has been working for 16 years for the great cause of providing housing to citizens and developing the housing financing system. In the last eight years, due to cooperation with state authorities and commercial banks within the Affordable Housing Finance Program framework, more than 100,000 citizens became proud owners of homes with 8% and 6% interest rate mortgages and created happiness with their loved ones. MIK will continue providing Mongolian families with cheap mortgage financing in the coming years.
During the challenging years of the pandemic, the government decided to postpone the payment of mortgage loans five times for a total of 32 months in cooperation with commercial banks. The investors, the Bank of Mongolia, and commercial banks, which play a vital role in the smooth circulation of mortgage loans, have received more than 400 billion MNT in coupon payments in the form of cash and credit from the reserve fund of the SPCs. It is even more apparent during the pandemic that the model of the stable and accessible housing financing system we have established can bear the risk.
We retained the trust shown to us by foreign investors by fully paying off the balance of the 300 million USD loan brought from the international capital market in 2019. International standards of information security, risk management, and compliance systems have been implemented as an internationally recognized company to introduce best practices into internal operations.
Once again, I wish investors and partners who trusted and cooperated with us a happy new year. May good deeds spread.
Sincerely,
B. Gantulga
Executive Director
