On March 5th, 2021, the Mongolian Stock Exchange (MSE) organized the ‘Ring the Bell for Gender Equality’ ceremony for the fifth year. The ceremony is organized globally by the stock exchanges to raise awareness on the importance of gender equality in businesses and sustainable development, on the occasion of International Women’s Day. In 2021, 104 exchanges held the “Ring the Bell” event to raise awareness about women empowerment and gender equality, MSE is actively taking the role to be part of the movement and advancement of gender equality in the financial world.
In the event, Ms. Elaine M. Conkievich, Resident Representative of UNDP Mongolia, Mr. Hannes Takacs, Head of Mongolia at EBRD and Ms. Bolormaa, Chairperson of Women Entrepreneurs Council at Mongolian National Chamber of Commerce and Industry participated and rang the bell for gender equality to open the 6,424th trading day of MSE. During her opening remarks, Ms.Elaine Conkievich, Resident Representative of UNDP Mongolia stated that, ‘To guide Mongolia’s sustainable development with a focus on women, it is imperative to use a gender lens when making financing decisions, looking at how any decision taken might empower or hinder women’s advancement. Therefore, UNDP is supporting the Government of Mongolia in the creation of a gender-responsive national financing strategy aimed at tackling the financing gaps for development while considering particularly the needs of women and girls in its development and its implementation.
Ms. Bolormaa, Chairperson of Women Entrepreneurs Council at Mongolian National Chamber of Commerce and Industry said, ‘Women are the driving force for the economy, yet still lagging entrepreneurial access. There is lack of definition of ‘women-owned business’ and statistics in Mongolia, which is needed for the Government to provide proper support.’
Among the listed companies, only approximately only 30% of CEOs are female, it is important to enhance equality of females in the business world. It has been shown by international research and practices, gender equality ensures not only human rights and freedom, but also enables businesses and organizations reach their full potential and maximize their performance. Therefore, MSE invites and encourages all securities market participants, listed companies and member firms to collaborate together in advancing gender equality. We are proud to note that MSE has diversity and promotes gender equality, we have more female employees than male and 50% of executive team consists of females. Our female executives and employees always have demonstrated their skill and knowledge in developing Mongolian Capital markets.
About Mongolian Stock Exchange:
On January 18, 2021, the 30th anniversary of the establishment of Mongolian capital market and Mongolian Stock Exchange was celebrated with great achievement of market. In the last 30 years, MSE has reached many milestones by pioneering generation of financial professionals who have devoted their careers to creating favorable legal environment and efficient market infrastructure in order to develop capital market from the ground up. The MSE is a self-regulated organization with a mandate to exercise regulatory authority over securities trading in Mongolia by enforcing rules and requirements designed to protect investors and enable companies to efficiently raise capital. Mongolian Stock Exchange strives to create a world-class capital market with a well-diversified portfolio of investment products and a well-developed market infrastructure that can help support the growth of the Mongolian economy.
Despite the challenges of the Covid-19 epidemic around the world, the role of capital market is crucial to recovery of the economy, the long-term sustainability of multi-pillar infrastructure and sustainable and inclusive economic growth. The Mongolian capital market is in the span of its pivotal point with the record high market capitalization of 3.5 trillion MNT and plans of implementing government policy reforms to ensure fair distribution of wealth, including the privatization of state-owned enterprises, IPOs of systematic banks, commercialization of large scale mineral strategic deposits through the stock market, and laying the legal foundation for effective management of contribution for pension fund on the stock market. Further, MSE aims to provide a diverse portfolio of products to investors, improve the listing process in compliance with international standards and increase overall transparency.
Originally published on Mongolia Times
