Factions meet to discuss some matters
Ulaanbaatar, Mongolia /MONTSAME/ At its regular meeting on Monday, the Democratic Party faction at parliament debated a draft law on Credit information and related to it laws.
Law on credit information gives all legal aspects for the creation of a single stock of bank credit. Common database will reduce risk and halt the issuance of citizens and organizations to double the loan, which constitutes a so-called "chain transfer of funds to a new loan to pay off the old". In addition to it, it is possible to create an electronic fund containing information about the maximum amount a borrower can get.
In other words, this measure allows not only to reduce the risk expected by the banking system, but to create conditions for the Operational Services borrowers, such as lower interest rates of credit, issuance of the loan within the specified period.
The same day, members of Mongolian People's Party faction at parliament discussed a draft law on State awards and related to it bills, as well as the Great State Hural's draft decree approving some ranks, the state awards, orders and medals of Mongolia.
The MPP faction felt right to temporarily postpone these draft laws on the grounds that the amount of money to finance the awards creating is increasing due to increase in types of the state awards. According to preliminary calculations, the total amount which will be reflected in the state budget for the state awards will be 19 billion togrog. In addition, a vice-head MPP faction
D.Dondog thinks fhat it would be right to consider these drafts together with other related ones being developed at initiative of the President of Mongolia.
S.Otgonbayar
Law on credit information gives all legal aspects for the creation of a single stock of bank credit. Common database will reduce risk and halt the issuance of citizens and organizations to double the loan, which constitutes a so-called "chain transfer of funds to a new loan to pay off the old". In addition to it, it is possible to create an electronic fund containing information about the maximum amount a borrower can get.
In other words, this measure allows not only to reduce the risk expected by the banking system, but to create conditions for the Operational Services borrowers, such as lower interest rates of credit, issuance of the loan within the specified period.
The same day, members of Mongolian People's Party faction at parliament discussed a draft law on State awards and related to it bills, as well as the Great State Hural's draft decree approving some ranks, the state awards, orders and medals of Mongolia.
The MPP faction felt right to temporarily postpone these draft laws on the grounds that the amount of money to finance the awards creating is increasing due to increase in types of the state awards. According to preliminary calculations, the total amount which will be reflected in the state budget for the state awards will be 19 billion togrog. In addition, a vice-head MPP faction
D.Dondog thinks fhat it would be right to consider these drafts together with other related ones being developed at initiative of the President of Mongolia.
S.Otgonbayar
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