The document discusses Mongolia's economy and policies to ensure long-term stability and growth. It notes that while real GDP growth slowed to 12.3% in 2012 from 17.5% in 2011, growth has remained in double digits. Inflation is under control due to proactive monetary policy. The banking sector has strengthened with increasing assets and stable non-performing loans. Mongolia is taking steps to improve investment environment through legal reforms and ensure macroeconomic stability through coordinated fiscal and monetary policies aimed at low and stable inflation.
The aim of this paper is to examine the impact of bank minimum capital requirement on credit supply in Ivory Coast, over the period from 1982 to 2016. To this end, the ARDL method was used to study the nature of the relationship between our explanatory variables and bank credit supply in Ivory Coast. The study indicates some major results. The results showed that in the short term, real GDP per capita and bank size influence credit supply in Ivory Coast. Real GDP per capita acts negatively on credit supply in the short run while bank size has a positive influence on banks’ capacity to finance the economy. In the long run, the Cooke ratio and the openness rate have an impact on bank credit supply in Ivory Coast. The recovery of bank minimum capital requirements positively influences bank credit supply while the openness of the economy negatively impacts banks’ ability to offer bank credit. In terms of economic policies implications, monetary authorities must enforce and respect the policy of increasing bank minimum capital requirements. They must encourage banks to increase their banking assets.
Cashless Policy and Financial Performance of Deposit Money Banks in Nigeriaijtsrd
The study investigated the effect of Central Bank of Nigeria Cash less Policy and the Financial Performance of Deposit Money Banks in Nigeria. A panel data were collected from a sample of 14 banks covering 6 years spanning from 2012 when the policy was introduced in Nigeria to 2017. The study used return on Asset as proxy for bank performance while the value transactions done through the ATM, POS, Internet Banking, NIP and NEFT platforms E banking Products were used to proxy cash less policy. In other to ensure the validity and the reliability of our data, we therefore subjected our data to a diagnostic test using Descriptive Statistic Analysis, Multicolinearity test, Correlation testing, and Herteroskadaticity testing. Findings from the study revealed that that ATMV has a positive and significant effect on return on assets ROA of banks in Nigeria while , POSV, WEBV, NIPV and NEFV were found to have a positive but insignificant effect on ROA of quoted banks in Nigeria. The study concluded that E banking products as a proxy for cash less policy has positive effect on the financial performance of Deposit Money Banks in Nigeria. It was thus recommended among others that bank management should pay more attention on the activities that will improve the ATM services if they wish to increase the ROA. Muotolu, Peace Chikwemma | Nwadialor, E. O ""Cashless Policy and Financial Performance of Deposit Money Banks in Nigeria"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23835.pdf
Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/23835/cashless-policy-and-financial-performance-of-deposit-money-banks-in-nigeria/muotolu-peace-chikwemma
The aim of this paper is to examine the impact of bank minimum capital requirement on credit supply in Ivory Coast, over the period from 1982 to 2016. To this end, the ARDL method was used to study the nature of the relationship between our explanatory variables and bank credit supply in Ivory Coast. The study indicates some major results. The results showed that in the short term, real GDP per capita and bank size influence credit supply in Ivory Coast. Real GDP per capita acts negatively on credit supply in the short run while bank size has a positive influence on banks’ capacity to finance the economy. In the long run, the Cooke ratio and the openness rate have an impact on bank credit supply in Ivory Coast. The recovery of bank minimum capital requirements positively influences bank credit supply while the openness of the economy negatively impacts banks’ ability to offer bank credit. In terms of economic policies implications, monetary authorities must enforce and respect the policy of increasing bank minimum capital requirements. They must encourage banks to increase their banking assets.
Cashless Policy and Financial Performance of Deposit Money Banks in Nigeriaijtsrd
The study investigated the effect of Central Bank of Nigeria Cash less Policy and the Financial Performance of Deposit Money Banks in Nigeria. A panel data were collected from a sample of 14 banks covering 6 years spanning from 2012 when the policy was introduced in Nigeria to 2017. The study used return on Asset as proxy for bank performance while the value transactions done through the ATM, POS, Internet Banking, NIP and NEFT platforms E banking Products were used to proxy cash less policy. In other to ensure the validity and the reliability of our data, we therefore subjected our data to a diagnostic test using Descriptive Statistic Analysis, Multicolinearity test, Correlation testing, and Herteroskadaticity testing. Findings from the study revealed that that ATMV has a positive and significant effect on return on assets ROA of banks in Nigeria while , POSV, WEBV, NIPV and NEFV were found to have a positive but insignificant effect on ROA of quoted banks in Nigeria. The study concluded that E banking products as a proxy for cash less policy has positive effect on the financial performance of Deposit Money Banks in Nigeria. It was thus recommended among others that bank management should pay more attention on the activities that will improve the ATM services if they wish to increase the ROA. Muotolu, Peace Chikwemma | Nwadialor, E. O ""Cashless Policy and Financial Performance of Deposit Money Banks in Nigeria"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23835.pdf
Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/23835/cashless-policy-and-financial-performance-of-deposit-money-banks-in-nigeria/muotolu-peace-chikwemma
Cover Story A shaky vision for Financial Inclusion
Outlook US Dollar
Stats Share of Public sector in capital formation
Emerging Country Peru
In Focus USA is second to China in monetary stimulus
As part of its Independent Review of Bangladesh’s Development (IRBD) programme, the Centre for Policy Dialogue (CPD) undertakes several interim reviews of the economy throughout every fiscal year. Accordingly, CPD has prepared an assessment report titled “State of the Bangladesh Economy in FY2014-15 (First Reading).”
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
This study examined the impact of financial innovation on money demand in Nigeria, using quarterly time series for the period 2009-2019. The dependent variable was money demand, represented by broad money, while the independent variable was financial innovation represented by modern payment channels such as volume of Automated Teller Machines (ATMs) transactions, volume of Point of Sales (POS) transactions, volume of Internet banking transactions, and volume of Mobile banking transactions. The study employed the ordinary least squares (OLS) regression technique as the estimation method within the cointegration, granger causality, and error correction modeling. The result obtained showed that financial innovation has mixed impact on money demand in Nigeria during the period of analysis. For instance, financial innovation has positive impact on money demand through volume of ATM transactions in the current period, two periods lagged of volume of mobile banking transactions, current period and one period lagged of volume of internet banking transactions, and current period’s volume of Point of Sales (POS) transactions in Nigeria. On the other hand, financial innovation has negative impact on money demand through one period lagged of volume of point of sales in Nigeria. On the stability of the demand for money function, the result of the stability tests based on the CUSUM test and CUSUM of squares test showed that the demand for money function was stable during the evaluation period. The study recommended that monetary policy strategy of the central bank of Nigeria (CBN) should be fine-tuned to ensure it is well suited to deal with the challenges posed by financial innovation by way of proliferation of sophisticated payment channels.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Equity financing is one of the sources of funding available to non-bank financial institutions which is quite prevalent in developed financial markets for small or start-up firms. This study empirically determined the effect of the Equity Financing Scheme on a sustainable increase in productivity of agro-allied small businesses in Nigeria. Data for this study were elicited through the use of a questionnaire structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that the equity financing scheme had a positive and significant effect on the sustainable productivity of agro-allied small businesses in South-South Nigeria. The study recommended that efforts should be made to educate the small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
media briefing to release the report “State of the Bangladesh Economy in FY2015 and the Closure of Sixth Five Year Plan,” prepared as part of CPD’s Independent Review of Bangladesh’s Development (IRBD) programme. The event was held at CIRDAP Auditorium, Dhaka on Monday, 1 June 2015.
Cover Story A shaky vision for Financial Inclusion
Outlook US Dollar
Stats Share of Public sector in capital formation
Emerging Country Peru
In Focus USA is second to China in monetary stimulus
As part of its Independent Review of Bangladesh’s Development (IRBD) programme, the Centre for Policy Dialogue (CPD) undertakes several interim reviews of the economy throughout every fiscal year. Accordingly, CPD has prepared an assessment report titled “State of the Bangladesh Economy in FY2014-15 (First Reading).”
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
This study examined the impact of financial innovation on money demand in Nigeria, using quarterly time series for the period 2009-2019. The dependent variable was money demand, represented by broad money, while the independent variable was financial innovation represented by modern payment channels such as volume of Automated Teller Machines (ATMs) transactions, volume of Point of Sales (POS) transactions, volume of Internet banking transactions, and volume of Mobile banking transactions. The study employed the ordinary least squares (OLS) regression technique as the estimation method within the cointegration, granger causality, and error correction modeling. The result obtained showed that financial innovation has mixed impact on money demand in Nigeria during the period of analysis. For instance, financial innovation has positive impact on money demand through volume of ATM transactions in the current period, two periods lagged of volume of mobile banking transactions, current period and one period lagged of volume of internet banking transactions, and current period’s volume of Point of Sales (POS) transactions in Nigeria. On the other hand, financial innovation has negative impact on money demand through one period lagged of volume of point of sales in Nigeria. On the stability of the demand for money function, the result of the stability tests based on the CUSUM test and CUSUM of squares test showed that the demand for money function was stable during the evaluation period. The study recommended that monetary policy strategy of the central bank of Nigeria (CBN) should be fine-tuned to ensure it is well suited to deal with the challenges posed by financial innovation by way of proliferation of sophisticated payment channels.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Equity financing is one of the sources of funding available to non-bank financial institutions which is quite prevalent in developed financial markets for small or start-up firms. This study empirically determined the effect of the Equity Financing Scheme on a sustainable increase in productivity of agro-allied small businesses in Nigeria. Data for this study were elicited through the use of a questionnaire structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that the equity financing scheme had a positive and significant effect on the sustainable productivity of agro-allied small businesses in South-South Nigeria. The study recommended that efforts should be made to educate the small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
media briefing to release the report “State of the Bangladesh Economy in FY2015 and the Closure of Sixth Five Year Plan,” prepared as part of CPD’s Independent Review of Bangladesh’s Development (IRBD) programme. The event was held at CIRDAP Auditorium, Dhaka on Monday, 1 June 2015.
Similar to 2013, PRESENTATION, Developing Mongolia’s capital markets How will the role of the government and the central bank aid this, Zoljargal Naidansuren
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1. Introduction and Key Concepts of Sustainability
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3. Measures and Reporting in Sustainability
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To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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2013, PRESENTATION, Developing Mongolia’s capital markets How will the role of the government and the central bank aid this, Zoljargal Naidansuren
1. Mongolia: Ensuring long-run stability
Bank of Mongolia
“Mongolia Investment Summit 2013”
London, UK
16-18 April 2013
Zoljargal Naidansuren
Governor
Bank of Mongolia
2. 2Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
Real economic growth: Short-term slowdown, but still in double digits
Source: NSO, Bank of Mongolia
10.2%
8.9%
-1.3%
6.4%
17.5%
12.3%
-10%
-5%
0%
5%
10%
15%
20%
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Agriculture Industry
Services Net taxes on products
GDP -8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
2006Q1
2006Q3
2007Q1
2007Q3
2008Q1
2008Q3
2009Q1
2009Q3
2010Q1
2010Q3
2011Q1
2011Q3
2012Q1
2012Q3
2013Q1
2013Q3
Blanchard Quah with 2 factors
Blanchard Quah with 2 factors, forecast
Blanchard Quah with 4 factors
Band pass filter
Hodrick Prescott filter
Kalman Filter
Real economic growth
• 2006-2008 Average: 9.2%
• 2010-2012 Average: 12.1%
No overheating pressure
Forecasts
Output gap
Gap is
neutral
3. 3Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
Terms of trade in 2012: Short-term deterioration
Source: Bank of Mongolia
0.0
0.5
1.0
1.5
2.0
2.5
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
2007/01
05
09
2008/01
05
09
2009/01
05
09
2010/01
05
09
2011/01
05
09
2012/01
05
09
2013/01
Terms oftrade (rightscale)
Exportprice index
Importprice index
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
2001/01
09
05
2003/01
09
05
2005/01
09
05
2007/01
09
05
2009/01
09
05
2011/01
09
05
2013/01
YoYchange in ToT
YoYchange in Xp
YoYchange in Ip
2013/02:
1.432
5. 5Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
Why slowdown in growth and BOP pressure in 2012?
• Real GDP growth slowed down from 17.5% in 2011 to 12.3% in 2012
• FDI declined by 17%
Why?
• China effect uncertainty in regional and global investment environment
• Euro zone risks
• Legal environment uncertainty
Source: UNCTAD, IMF, WB, Central banks’ statistics
FDI decline
2011 2012 (%)
Mongolia 17.5% 12.3% -17%
Vietnam 5.9% 5.1% -15%
India 6.8% 5.4% -15%
Kyrgyzstan 5.7% 1.0% -46%
Peru 6.9% 6.0% -4%
Malaysia 5.1% 4.4% -24%
Real GDP Global FDI inflows declined by 18% in
2012 (UNCTAC).
Total Chinese outward investment in 2012
reached $79.7B, grew by 6.9%, but
Chinese outward investment to developing
and emerging countries in 2012 declined
by 49.7% to $22.6B.
6. 6Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
Recent developments
Chinese leadership change is done Less uncertainty
Amendment to the “Strategic foreign investment law” (Parliament floor)
- Applicable only for foreign state-owned companies
- Not applicable to private foreign companies
- No benchmark level on investments for approval
- Private & small-scale investments are expected to be encouraged
Overall Macroeconomic Stability and Confidence
- Monetary policy has been more coherent and proactive
“Mongolia needs a long-term, stable environment for investments…”
Elbegdorj Tsakhia, President of Mongolia
Source: Official speech for Opening the Spring Session of the Parliament
7. 7Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
More attractive and stable FDI environment
Investment Law (“Investment Constitution”) will be approved during
this spring parliament session (Govt. draft).
- Investments in real sectors, rural vs. urban areas
- Export-oriented and High-tech investments
- Overall investment stability Investment attraction and stimulation
- Legal rights, interests and obligations of investors …
National Security Council Guidance:
- Only 1/3 of any (infrastructure and industrial) project investments to be
financed by sovereign bond proceeds
- Bond proceeds will attract more FDI (at least $3B) into Mongolia
8. 8Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
Revision on the Securities Law
To make the law consistent with securities market development and its perspective
(new terms vs. new regulations);
To better regulate operations of securities market participants (professional
investors and their requirements, regulations on IPOs, issuance of stocks,
certificates, derivatives);
To improve transparency and accountability of securities market operations
(reporting obligations);
To protect the rights of market participants, including investors (information
equality);
To improve effectiveness of public authorities’ supervision (new procedure on
financial supervision and more predictability).
Securities market operations will meet international standards;
New financial products, services and instruments will be developed;
Overall market risks will be mitigated;
Investment opportunities will significantly be increased.
9. 9Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
1,100
1,150
1,200
1,250
1,300
1,350
1,400
1,450
1,500
1,550
1,600
-500
-400
-300
-200
-100
0
100
200
300
400
500
600
2008/01
03
05
07
09
11
2009/01
03
05
07
09
11
2010/01
03
05
07
09
11
2011/01
03
05
07
09
11
2012/01
03
05
07
09
11
2013/01
MillionUSD
FX net flows
Togrog referance rate, RHS
FX net flows and reference exchange rate
Source: Bank of Mongolia
Stability since the last crisis (Q4 2008 – Q1 2009)
Daily average exchange rate volatility: only 0.08% in 2012
BOM: Fully committed to flexible exchange rate
Outlook: More FX net inflows and stable FX market
12. 12Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
Monetary policy guideline - 2013
Macroeconomic Stability
Financial Stability
Financial infrastructure and
institutional development
• Inflation targets: 8% end-2013, 5-
7% for 2014-2015
• Flexible exchange rate
• Central bank independence,
openness and transparency
• Financial sector soundness
• Risk-based supervision
• Legal environment on collateral
assets
• Deposit insurance system
• Payments system
• Financial service accessibility
and inclusiveness
• Securities Law
Financial
Stability
Macro
Stability
Long-run
sustainable
growth
Monetary policy
13. 13Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
14.2
9.4
-5
0
5
10
15
20
25
30
35
I II III IV I II III IV I II III IV I II III IV I
2009 2010 2011 2012 2013
Other
State regulated (administrative)
Fuel
Meat
Foods (excl. meat)
Inflation is under full control
Source: NSO, Bank of Mongolia
Low
inflation
Fiscal
Stability Law
Proactive &
Transparent
Monetary
Policy
Better Policy
Coordination
Supply
Shock
Elimination
Program with
the Govt.
MPC decisions from 2013:
Jan: Cut the policy interest rate by 0.75 pp
Feb: Interest rate corridor
Apr: Cut the policy interest rate by 1.00 pp
14. 14Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
0.8
1.3
2.0
2.8
2.5
2.2
0.6
0.2
0.8
1.8
1.0
0.8
0.0
0.5
1.0
1.5
2.0
2.5
3.0
OCT NOV DEC JAN FEB MAR
Oct 2011 - Mar 2012 (without PSP)
Oct 2012 - Mar 2013 (with PSP)
Headline and core inflation: Downward trend
Source: Bank of Mongolia
2012 Jan-Mar: 7.5%
2013 Jan-Mar: 3.6%
2011 Oct-Dec: 4.1%
2012 Oct-Dec: 1.6%
9.4%
9.5%
9.3%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
2007/01
05
09
2008/01
05
09
2009/01
05
09
2010/01
05
09
2011/01
05
09
2012/01
05
09
2013/01
CPI inflation
Food inflation
Non-food inflation
15. 15Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
Macroeconomic policy
• Fiscal policy Countercyclical and disciplined
– Fiscal Stability Law: Budget rules and Stabilization fund
– Public investments to abolish supply shocks
– Targeted social welfare program
• Monetary policy Countercyclical and proactive
– Low and stable inflation (from double digit to 6% inflation)
Macro stability and sustainable growth
– Financial stability
– Flexible exchange rate policy
– Supply shock elimination program with the Govt.
– Financial infrastructure and institutional development
– Legal environment
16. 16Монгол Улсын гадаад секторын тойм, тулгамдсан асуудлууд
Macroeconomic policy
• Economic policy
– Overall economic competitiveness
– Essential infrastructure investments and development
– Export promotion: EXIM
– Industrial clusters: Value-added products
– Light industry: Ecological food products, cashmere, wool, leather etc.
– Financial market development: Pension fund reform, Wealth fund,
Government bond market, Mortgage financing scheme, Legal
environment
– Increase nationwide savings and investments
17. Thank you for your kind attention
BANK OF MONGOLIA
BANK OF MONGOLIA
Baga toiruu – 3, 15160
Ulaanbaatar 46, Mongolia
www.mongolbank.mn