Bogd Bank – Car loan service

Bogd bank has cooperated and is working together with organizations officially authorized to sell cars to provide to their customers with reliable and trustworthy comprehensive service such as after-sales service, give customers the opportunity to choose from over 1000 orderable or ready-to-use cars, give advice on finding the car the client is looking for, and aid in making the right decision.

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On the topic of "Blockchain growth in the Asian market", Mr G. Saruul, Chief Executive Director of Bogd bank discussed on how to introduce the technology to Mongolia to create economic solutions.

At the #BlockchainCentral’s first meeting at #Davos, representatives of the China Mergers and Acquisitions Association, @Radian_Partners, @OKLink, @BogdBank, Chong Sing Holdings, Dianrong, Beijing Tai Cloud have conversed about the Blockchain growth in the Asian market.

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Bogd Bank has signed a Memorandum of Understanding on a multifaceted cooperation plan with the Bank of Inner Mongolia

The Mongolia-China Expo took place in Hohhot, China from 26-30 September 2017, where over 800 Mongolians from 383 organizations took part in 13 forums regarding trade and investment. During this time, Bogd Bank signed a Memorandum of Understanding on Cooperation with the Bank of Inner Mongolia. Within the framework of this cooperation, both banks will be able to complete transactions in MNT, CNY and USD, as well as to promote trade through cooperation in trade financing and the development of syndicated loans for project financing needs within the region. With the expansion of Bogd Bank’s operations and the cooperation with the Bank of Inner Mongolia, it will create favorable opportunities for entrepreneurs and businesspeople in Mongolia and China, promoting bilateral economic cooperation and strategic partnership, and successfully initiated a long term financial cooperation between the two countries. Bogd Bank – Inspiring Trust

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Bogd Bank announces its new Board member

Bogd Bank announces that Mr Charles White-Thomson was appointed as a Board member. Mr Charles White-Thomson has 20 years of experience in the financial markets, working with Credit Suisse, Donaldson Lufkin & Jenrette and ING Barings, specialising in emerging and developed equities. During his 17 years at Credit Suisse he held a series of different roles, including: Managing Director, Head of cash equity sales to Europe, Co-head of Emerging Europe, Middle East and Africa cash equities, and 4 years as Head of Equities for Russia, Kazakhstan and Ukraine based in Moscow. He brings a wealth of experience including active involvement in 100 + IPOs and a deep understanding of how global investors view emerging companies. Bogd Bank believes in his leadership and dedicated service on the Board and valuable contribution to the success of the Bank. We wish the best to Mr Charles White-Thomson on behalf of everyone at BogdBank

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Bogd Bank CEO Saruul Ganbaatar was chosen as the founding member of the Global Blockchain Business Council.

The Global Blockchain Business Council is a newly established organization during the World Economic Forum-2017 and chose Mr. Saruul as the founding member of the organization. The Global Blockchain Business Counsel’s vision is to spread the Blockchain Technology worldwide and to promote business partnerships, cooperation and to encourage discussions related to it. The Council chose 38 members from 30 countries who are leading technologic, economic, banking, financial, political and legal sectors. For instance, a leading blockchain service provider, Bitfury Group founder and CEO Val Vavilov and world renowned economist Hernando De Soto who visited Mongolia upon the President of Mongolia’s invitation are among the founding members. These members will continue to promote cooperation and build bridges to other businesses to help promote and spread blockchain technology worldwide. Mr. Saruul Ganbaatar was exclusively chosen as a founding member for his distinct knowledge and skills in banking and finance for the World Economic Forum in leading global business community.

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Bogd Bank establishes correspondent bank relations with VTB Bank

Bogd Bank has signed a correspondent banking agreement with VTB Bank, one of the leading commercial banks of Russia. VTB Bank was established in 1990 and currently operates a large network of over 1700 branches across the country. With this newly-established relationship, Bogd bank is able to provide our valued customers with fast, reliable and affordable cross-border payment services in Russian rubles. Bogd Bank offers fast and secure wire transfer services for individuals and businesses wishing to make USD, KRW, JPY, CNY, RUB payments internationally. For further information regarding international payment services, click here.

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BOGD BANK: MACRO OVERVIEW December, 2016

Readers will be forgiven for thinking that the news from Mongolia remains exclusively negative. True, as the first set of charts below show, many indicators are not good. GDP growth in the third quarter was zero, foreign investment is stagnant, the fiscal position is poor, and the currency remains under pressure. 

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Bogd Bank establishes correspondent bank relations with Agricultural Bank of China

Bogd bank has established a strong correspondent banking relationship with highly reputational banks and expanding its foreign relations successfully. We recently established a correspondent relationship with People’s Republic of China’s one of the TOP 3 bank, Agricultural Bank of China. Furthermore, Bogd bank has direct correspondent relationships with Republic of Korea’s Kookmin Bank, Japan’s Mizuho Bank, People’s Republic of China’s Bank of Inner Mongolia, and Shanghai Pudong Bank. We carry out payments in major 4 currencies, including United States dollar, Korean Won, Japanese Yen, and Chinese Yuan.

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Bogd Bank expands correspondent network

Bogd Bank has just established a correspondent banking relationship with KB KOOKMIN Bank, one of the TOP 5 banks in South Korea. Within the first half of this year, we have also established correspondent banking relationships with Mizuho Bank, Shanghai Pudong Development Bank, PKO Polski Bank and the Bank of Inner Mongolia. We are now providing our customers with fast and affordable international transfer services to any country in 6 of the most-used currencies.

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Announcement: Release from Board member’s duties

The board of directors (the “Board”) of Bogd Bank LLC (the “Company”) announces that pursuant to the ordinary resolution passed by the shareholders of the Company, Mr.Francois Wiget has been released from his duties as non-executive director of the Company with immediate effect. The Board would like to express its gratitude to Mr.Francois Wiget for his valuable contribution to the Company during his term of service.

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Bogd Bank receives first-time credit ratings from Moody’s

Bogd Bank has recently been assigned first-time ratings of B3 for local currency and foreign currency long-term deposits and NP for local currency and foreign currency short-term deposit ratings of NP by Moody’s Investors Service. Bogd Bank has also been assigned a baseline credit assessment (BCA) and an adjusted BCA of B3, long-term counterparty risk assessment of B2(cr), and short-term counterparty risk assessment of NP(cr). The outlook for all the ratings is stable. The ratings reflect the challenges faced by Bogd Bank as a newly established financial institution and advantages associated with the Bank’s high levels of equity capital and large stock of highly liquid assets. For more information, please see : https://www.moodys.com/research/Moodys-assigns-first-time-ratings-to-Bogd-Bank--PR_342690

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Bogd Bank launches internet banking services

Bogd Bank is committed to serving our valued customers with state-of-the-art technology and online products and is pleased to launch internet banking services via www.ebogdbank.com. With internet banking you can Monitor and control your Bogd Bank accounts straight from your mobile device: Check your balance, track your transaction history and view the transaction activity chart. You can also add or remove an account.

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Bogd Bank has joined the Sustainable Finance Program

Bogd Bank is committed to operating in an environmentally friendly and transparent way, in line with our social responsibilities. We also apply these requirements to the projects we finance and in accordance to such aims, we have joined the Sustainable Finance Program of Mongolia (SF) and have become an official member of the SF program, starting 27th of November, 2015.

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New correspondent relation has been established

It is our great pleasure to inform our clients that Bogd bank has established correspondent relation with one of the most widely respected bank, Commerzbank AG, Germany. It allows our bank to conduct transactions in EUR, CHF and GBP to and from more than 50 countries within reach of our new partner.

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Bogd bank became officially compliant with FATCA

The United States decreed Foreign Account Tax Compliance Act (FATCA) to ensure certain foreign financial accounts held by U.S. taxpayers are duly targeted. Accordingly, international banks and financial institutions are obligated to sign an agreement with U.S. tax authorities and report on U.S. taxpayers and their financial accounts. Bogd Bank upholds and complies with international laws hence respectfully abides by regulatory requirements and responsibilities. Thus, Bogd Bank has registered with Internal Revenue Service on June 22 2015 and received its registration number (GIIN: MEM4NS.99999.SL.496) and became officially compliant with FATCA.

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An Investment Agreement on 2nd phase of OT project has been signed

The Government of Mongolia, ‘Erdenes Oyu Tolgoi’ LLC with ‘Turquoise Hill resources’, ‘Rio Tinto’ and ‘Oyu Tolgoi’ LLC have signed an Investment Agreement on Underground Mine Development and Financing Plan for 2nd phase of Oyu Tolgoi project. Thus, it made it possible to initiate underground mining that accounts 80 percent of Oyu Tolgoi reserves. Mongolian Government bond has been increased in value by about 3 percent after the signing the Agreement indicating increased positive attitude of international investors. After the event, Mr. Saikhanbileg Ch., Prime Minister of Mongolia, announced that ‘We have settled the issues on Oyu Tolgoi project and we will work towards launching the Tavan Tolgoi project’.

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EYG Group to invest $250 million through Bogd bank

EYG Group (Turkey) have initiated a plan to invest $250 million into the Mongolian real estate sector and Bogd bank has been chosen as a Mongolian partner in the investment. Within the scope of the event, Management of EYG Group and Mr. Saruul G., board member and CEO of Bogd Bank have signed a Memorandum of cooperation between the parties. The EYG Group is planning that it will invest $250 million over the coming two years. Additional information: Bogd bank has obtained its licenses from Mongolbank in December 2014 and planning to open its doors for clients in 2015. Bogd bank will offer the perfect-fit solutions in a wide range of financial products and services to its investment, corporate and private banking clients while introducing the latest technology and standards into the Mongolian financial sector.

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