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Hello September! 🍂📚 As a new academic year kicks off across Mongolia, it’s the perfect time to set fresh goals, embrace learning, and dive into new opportunities. Let’s make this September a month of growth, inspiration, and big ideas!

In today’s newsletter:

• 💰 Mongolian Mining Corporation’s H1 Loss 

• 🗳️ Democratic Party’s New Leader 

• 📊 ADB’s Funding History 

No Time to Waste. Let’s Get Started! 🦘

MARKET

BOM: The Bank of Mongolia signed a memorandum of understanding with Germany’s Sparkasse Bank to strengthen the banking sector’s capacity to adapt to climate change.

MMC: Mongolian Mining Corporation (0975.HK) reported a 35.9% decline in revenue in H1 2025, reaching $346.6 million compared to the same period last year.

MNG: Mongolia’s coal output rose 19% in July, reaching 7.7 million tonnes.

👑 Democratic Party Chooses New Leader

Mongolia’s main opposition, the Democratic Party (DP), has elected Member of Parliament O.Tsogtgerel as its new leader, marking a pivotal moment ahead of the 2027 presidential election.

📺 Election Overview

The leadership contest featured four candidates: O. Tsogtgerel, B. Purevdorj, J. Bayarmaa, and B. Otgonbat. Tsogtgerel secured 196 votes, or 63% of the National Policy Committee, to claim victory. Ahead of the vote, the candidates engaged in a televised debate under the theme “Freedom—Time for Change,” setting a new standard for political discourse in Mongolia.

• 💰 Election Costs: Originally, the registration fee was set at ₮408 million for 2 candidates. With 4  contestants registering, ₮200 million each was collected, and any excess funds were refunded.

🐝 About the New Leader

An economist by training, O.Tsogtgerel has served 2 consecutive terms in Parliament and holds shares in TESO Group. Running under the slogan “Building a New Mongolia Together,” he emphasized comprehensive reforms in law, economics, and politics, positioning the Democratic Party as a vehicle for meaningful national change.

🛣️ A Critical Turning Point

Excluding the 2017 presidential election, the DP has struggled for over a decade, failing to dominate Parliament. In last year’s parliamentary election, however, the party won 42 seats, reflecting renewed public support. While many citizens hoped the DP would emerge as a strong opposition, the party decided to enter a coalition government with its main competitor, the Mongolian People’s Party (MPP). This coalition collapsed within a year amid former PM L.Oyun-Erdene’s scandal, eroding public confidence in the DP.

With 2027 approaching, O.Tsogtgerel faces the challenge of restoring the DP as a credible opposition. He has pledged not to personally support a coalition government, while respecting the majority decision of party members. The party must now act decisively to regain public trust and demonstrate its capacity to serve as an effective counterbalance to the ruling MPP. 👀

⭐ Selected for you

ECONOMY & BUSINESS

• Murun Pearls Announces the Launch of GIA Certified Pearl Jewelry in Mongolia. (WralNews)

• Kyrgyz Enterprises Seek to Import Meat from Mongolia. (AssociatedPressofPakistan)

• Orica and Oyu Tolgoi Partnership Drives Mining Innovation and Efficiency in Mongolia. (BusinessInsider)

POLITICS

• Belarus, Mongolia Eager to Step up Interaction in Security. (Belta)

• Mongolian President Arrives in Tianjin for SCO Summit 2025. (CGTN)

• Mongolia, South Korea to Open Joint Rare Metals Research Center. (AKIPress) 

• Mongolia Expands Third Neighbor Links to Southeast Asia. (TheDiplomat)

• Will China’s ‘Great Green Wall’ Expand to Mongolia in Joint Desertification Fight? (SCMP)

CULTURE & LIFESTYLE

• 1,500-Year-Old Inscription May Be One of Just Three from the Period. (Men’sJournal)

• I Plan Trips to Mongolia for a Living—and This Is the Cultural Event You Can't Miss. (Yahoo!Life)

• Could Mongolia Be The New Zealand Of Counter-Strike? (EsportsNews)

• Riding Camels in Mongolia With Justice Sandra Day O'Connor. (AbaJournal)

📰 Ard Credit NBFI: Business Highlights & Buzz

In July, Ard Credit NBFI ($ADB) signed a $5 million funding agreement with Japan’s Crowd Credit. Last week, $ADB secured the first tranche of this funding, amounting to ¥100 million.

🆙 Funding Boost

$ADB first tapped into foreign financing through Crowd Credit in 2019, the same year it went public via IPO. The initial $5 million was fully repaid, paving the way for this renewed collaboration. The latest funding will support nationwide expansion of financial services and further development of Ard App, the company’s fintech loan platform.

• 👶🏻 New Products: In the first half of this year, $ADB added a loan targeting young entrepreneurs to its lending portfolio. Plans are also underway to increase financing for SMEs and herders.

• 🛜 Expanding Reach: In May, another strategic move was announced, as $ADB partnered with Mongol Post (MNP) to deliver financial services nationwide via smart POS systems. The rollout of these devices is expected to be completed by the end of the year.

🤔 Forward-Looking Strategy

$ADB maintains close collaboration with Japanese partners and is now exploring additional funding opportunities from Hong Kong and Singapore. A portion of both domestic and international financing will continue to be invested in further developing and enhancing the Ard App, a key competitive tool.

• 📲 Innovation Highlights: This year, the company launched Mongolia’s first hybrid credit scoring system within its app and issued its very first debit card. The ongoing partnership with $MNP is expected to strengthen $ADB’s position in the competitive fintech landscape.

Looking ahead, in 2026 $ADB will celebrate its 15th anniversary and mark 7 years as a publicly listed company. Shareholders can look forward to new strategic partnerships and innovative products that will further strengthen the company’s market presence and long-term growth potential.

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With rapid international growth and 41% gross profit growth last year alone, Pacaso is hitting their stride. They even recently reserved the Nasdaq ticker PCSO.

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Publisher: Ts.Ankhbayar
Writer: M.Khulan
Graphics by: Ts.Tselmeg

Disclaimer: The information Inside Mongolia provides is for educational and informational purposes only. It is not intended to be or constitute financial advice, trading advice, or any other advice. The decision whether to consider the information we provide is solely our readers' independent decision.