Issues of secured transactions and pledges of movable property
The International Finance Corporation of the World Bank Group, in cooperation with the Mongolian Bank Association, has been implementing a program to enhance the supply chain finance market, especially focusing on the increase of loans and financing secured by moveable assets. For Mongolia, the "Law on Pledge of Movable Property and Intangible Property" was enacted and has been in effect since 2015 becoming one of the most frequently discussed legal relations.
Public-Private Partnership as a Legal Concept and its Features in the Civil Law of the Russian Federation and Central Asian Countries and Issues Related to Due Qualification of the Public-Private Partnership Contract
Research Institute of Private Law of Caspian University and Kazakhstan International Arbitration published the second issue of the collection of scientific papers "Actual problems of private law" edited by M.K. Suleimenov. The collection includes an article by Chikanaev Shaimerden titled "Formation and development of the institute of public-private partnership in the civil law of Central Asian countries and Russia.
New opportunities to finance the activity for the LLC
LLC is the most widespread form of legal organization for companies. The advantages of choosing this particular form are manifold. Among the best known is the easy and fast procedure of constitution, the possibility of being constituted by a single person.
Main comments regarding the ra law "on non-cash settlements" entered into force
From July 1, 2022, payment for a number of transactions, including for the alienation of goods and property, for the use of goods and property, for the performance of work and the provision of services, as well as for transactions for the payment of passive income, for obtaining or issuing a loan from organizations or individual entrepreneurs, where one of the parties is an individual, and where the transaction amount exceeds 300,000 AMD, is to be implemented in a non-cash form.
Legal Alert: Relevant procedures for virtual asset service providers have been approved
In October 2019, Mongolia was placed on the list (by the International Organization for Financial Action Task Force (FATF)) of countries having strategic deficiencies in their regimes to combat money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction. 1 year later in October 2020, it was successfully removed from the list.
US sanctions in the context of Russia's invasion of Ukraine
As a result of Russia's invasion of Ukraine, the U.S., E.U., U.K. and their allies have implemented a broad array of sanctions and other economic measures intended to impose on Russia and its allies. The sanctions are intended to further increase the costs to Russia of prosecuting the war in Ukraine by cutting Russian acres to foreign revenue, services that could be used to evade sanctions, and finished goods and inputs used by Russian industry for military purposes.
The six packages of sanctions imposed by EU on Russian Federation
One of the instruments the EU is using to bring about changes and expert pressure on Russia to stop its military attack on Ukraine are sanctions. Sanctions are instruments of foreign policy and are based on Article 29 of the Treaty of the European Union.
Banking Regulation Review
Events in 2021 resulted in the Kazakh economy, in particular the financial sector, having to face the combined challenge of a continued reduction in oil prices and new strains of covid-19. However, according to the Agency for Regulation and Development of the Financial Market (AFR), the negative impact of these challenges on the Kazakh banking sector was not as severe as expected, and in 2021 banking sector started gradually to recover.
A new Regulation on “Opening, maintaining and closing bank accounts” was adopted
According to the Resolution of the Central Bank of the Republic of Azerbaijan #04/2 dated 4 February 2022, the Rules on “Opening, maintaining and closing bank accounts” from 10 June 2019 have ceased to be legally valid, and a new Regulation on “Opening, maintaining and closing bank accounts” was adopted.
11.05.2022
If you are interested in establishing a presence in a new market, restructuring your current operations, or expanding the geographical coverage of your business, the jurisdictions of Caucasus and Central Asia could offer a great potential from economic and legal standpoints. The region is strategically located between Europe and Asia, offering a unique position for companies who do business in both markets.
The Decree of the President of the Russian Federation No. 81 of March 1, 2022 came into force "On additional temporary economic measures to ensure the financial stability of the Russian Federation"
Since March 2, 2022, additional temporary economic measures have been in effect to ensure the financial stability of the Russian Federation.
21.02.2022
Tremendous mineral reserves, agricultural endowments, and proximity to Asia’s vast markets make Mongolia an attractive destination for medium to long-term foreign direct investment (FDI). The Gross Domestic Product (GDP) in Mongolia is worth 10.4 billion US dollars as of September 2021 according to the national statistics of Mongolia. The GDP value of Mongolia represents 0.01 percent of the world economy.