Two days ago I reported to the project office here in Ulan Bator, Mongolia's capital, where I am working with the Asian Development Bank on a project funded by Japan to strengthen credit unions. There are over 100 credit unions in the country, about one-half here in the capital and the other half in the countryside.
Today I am preparing for a trip next week down to the Gobi desert area to work with inspectors where we will visit several rural credit unions.
Mongolia is a very sparsely settled land about 2.5 times bigger than France, tucked in between China and Siberia. The land of Chinggis Khan and nomads
These last two days have been a flurry of meetings with people at the ADB, the Financial Regulatory Commission and others, and getting settled in on my six-month intermittent mission. I already have a cell phone, a desk, business cards. I am working on the rest of it (for example a translator).
My job specifically will be to assess present regulatory and supervision systems for savings and credit cooperatives (credit unions), make recommendations on how to improve supervision and capacity assessment (ratings) both on-and- off-site, how to implement a new law and also how to improve regulations.
Specifically my general scope of work is:
This consultant will work closely with Financial Regulatory Commission (FRC) Microfinance Department to help design and implement revised systems of off-site and on-site supervision that are practical and cost-effective, and ensure responsible performance and growth of SCCs. This will include field involvement on an intermittent basis in FRC's assessment of all SCC operations, including verification of closures and documentation of findings and system amendments emerging from this exercise. The consultant will help determine suitable management information system options and facilitate any new investment and training in this area. The assignment will require day-to-day work on-site with regulators in on-site and off-site supervision and skills development in this area.
Since I am just getting started let me end here, and I will have more information in the next chapter...