Welcome to the
Mongolian-British
Chamber of Commerce
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Welcome

The MBCC is a not-for-profit membership organisation established in 2009 to foster strong business links between Mongolia and the UK. It aims to provide a professional and social environment for business people who wish to be introduced to, and become part of, the British-Mongolian business culture and community.

Mongolia and the Financial Action Task Force

by John Grogan

Ukhnaagiin Khurelsukh, Prime Minister of Mongolia

October 6 2020

Mongolia has a world beating record on combating the coronavirus with currently no recorded deaths. Moreover, the Mongolian Government has suspended all commercial flights into the country for the last six months. All the more noteworthy then that last week a Mongolian Airlines plane took off from London Heathrow bound for Ulaanbaatar for the first time since 2013. Seven years ago, the passengers were the military band of the Mongolian army heading home after a successful debut at the Edinburgh Tattoo. This time on board were five representatives of the Financial Action Task Force (FATF) with a mission to Mongolia of crucial significance to the nation’s economy. Experts from the U.K., USA, Japan, China and Russia were considering whether Mongolia should be removed from the organisations grey list. 

Based in Paris the FATF is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering. Since 2000 FATF has maintained a blacklist and a grey list. Like the blacklist, countries on the FATF grey list represent a much higher risk of money laundering and/or terrorism financing but unlike those on the blacklist they have formally committed to working with the FATF to develop action plans that will address their deficiencies.

Dulguun Bayarsaikhan writing in the UB Post in October 2019 summed up Mongolia’s recent relations with the FATF which resulted in the nation being added to the grey list for the second time in 2019.

‘Mongolia entered FATF’s grey list in 2013, but narrowly slipped out of it with specific conditions as the country managed to meet some of the requirements and made specific commitments. 

 

To read more please go to the articles page on this website

Upcoming

The 10th anniversary of the Mongolian British Chamber of Commerce

This September the Mongolian British Chamber of Commerce is celebrating its 10th anniversary.

The celebrations began with the ninth Burns Supper organised in Ulaanbaatar in association with the Mongolian Honorary Consul in Scotland . This was preceded by a judo match between Mongolia and Scotland. Please see the link below

http://www.sand-baggers.com/9th-ub-burns-supper/

In February to coincide with Mongolian New Year (Tsagaan Sar ) a joint event with British Expertise was held in London. This was reported by MNB ( the Mongolian National Broadcaster ) .Please the following link

 

Mongolia 2020-2024

An Online Seminar using Zoom took place on
Tuesday September 22nd
11am in London
6pm in Ulaanbaatar.

The principal speaker was Damdiny Tsogtbaatar who was the Foreign Minister for Mongolia from October 2017- July 2020.

Contributions  also came from the British Ambassador Philip Malone and the Mongolian Ambassador Tulga Narkhuu.

The event marked 10 years of the Mongolian British Chamber of Commerce which held its first event in London on September 22nd 2010. A link to a recording of the event follows.

Watch this space for details of future events in 2021

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