Pursuant to the Law on the Development Bank of Mongolia and the “Procedure for Selecting Members of the Board of Directors of the Development Bank of Mongolia” approved by Annex 2 of Government Resolution No.123 of 2017, the Development Bank of Mongolia hereby announces an open selection process for members of its Board of Directors.
Number of Regular Members to be selected - 2
Number of Independent Members to be selected - 1
I. ELIGIBILITY REQUIREMENTS
General requirements for all candidates:
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Regular member |
Independent member |
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Must have no overdue debts arising from loan, guarantee, or surety agreements.
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Must hold a higher education degree in banking, finance, law, engineering, or economics, and have at least five years of professional experience in a managerial position in the relevant field. |
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Must have no criminal record. |
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If a legal entity in which the candidate served as an authorized official has gone bankrupt or become insolvent, it must be proven that the candidate bore no responsibility for such outcome. |
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Must not be an authorized official or related party of a bank or other institution engaged in professional activities in the banking sector. |
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If the candidate served as an authorized official at the time a bank or non-bank financial institution’s license was revoked due to violations, at least three years must have elapsed since the revocation. |
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If the candidate was held administratively liable while serving as an authorized official at a financial market institution, at least three years must have elapsed since then. |
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Must not be an authorized official or related party of the Development Bank of Mongolia. |
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Must not currently hold a political position. |
Must not hold a civil service position and must not have held a political position within the last five years. |
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Must have no business ties with the Development Bank of Mongolia. |
must not directly or indirectly (together with related parties) own 5% or more of the shares of the Bank. |
II. REQUIRED DOCUMENTS
Applicants must submit the following documents in accordance with Article 5.1 of the “Procedure for Selecting Members of the Board of Directors of the Development Bank of Mongolia”:
- Application letter for participation;
- State civil servant’s CV (form) – Download;
- Preliminary declaration of private interests for nomination to public office – Download;
- Three-generation biography;
- Copy of national ID card or official reference;
- Notarized copies of diplomas, certificates, and educational documents;
- Two passport-sized (4x6 cm) photos;
- Social insurance contribution statement (E-Mongolia);
- Proof of residence statement;
- Certificate regarding criminal record and liabilities (E-Mongolia):
- Confirmation of whether the applicant has ever been held criminally liable;
- Confirmation of whether the applicant has outstanding court-ordered payments;
- Confirmation from the Bank of Mongolia on:
- Whether the applicant served as an authorized official at a time when a bank’s license was revoked;
- Whether the applicant has overdue debts from loan or guarantee agreements;
- Confirmation from the Financial Regulatory Commission on whether the applicant served as an authorized official at the time of revocation of a financial institution’s license due to violations;
- Court confirmation on whether the insolvency/bankruptcy of a legal entity, in which the applicant served as an authorized official, was caused by the applicant in any way.
III. SUBMISSION ADDRESS
Mongolia, Ulaanbaatar city, Chingeltei District, J. Sambuu Street, Government Building XI, 5th floor, Room 504
Attention: Secretary of the Selection Committee for the Board of Directors of the Development Bank of Mongolia
Contact: Ms. Ts.Doljinsuren, Specialist, Development Project and Investment Management Division
Tel: (51) 264182, (+976) 86063443
IV. DEADLINE FOR SUBMISSION
Applications will be accepted during working hours from August 1, 2025 until 5:30 p.m. on Septmerber 19, 2025. Documents must be submitted in sealed form.
