In cooperation with Thomson Reuters, M&E’s article “Country Update-Mongolia: Insurance” has been published by Practical Law. This article highlights some of the key legal regulations commonly associated with the insurance market in Mongolia.
Melville Erdenedalai (M&E) LLP’s Post
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LEGISLATIVE UPDATE: MONGOLIA ADOPTS NEW LAW ON PUBLIC AND PRIVATE PARTNERSHIP On 9 December 2022, the Parliament of Mongolia adopted the Law of Mongolia on Public and Private Partnership (the “PPP Law”). The PPP Law came into effect on 1 July 2023, replacing the existing Law of Mongolia on Concession (the “Concession Law”) dated 28 January 2010. The introduction of the PPP Law signifies Mongolia’s commitment to reforming and modernizing the principles and terms of public and private partnership (the “PPP”) in line with international standards and best practices.
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LEGISLATIVE UPDATE: MONGOLIA ADOPTS INVESTMENT (SPECIALIZED) BANKING LAW On 20 January 2023, the Parliament of Mongolia adopted the Law of Mongolia Investment-Specialized Banking Law (the “Investment Banking Law”) after six years of pending approval since the draft law has been prepared and submitted to the Parliament of Mongolia (the “Parliament”) in 2016 for parliamentary discussions and enactment. The Investment Banking Law entered into force on 1 March 2023.
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