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Inefficiencies and high costs characterize Mongolia's social welfare system, and its effectiveness in reducing poverty was hampered by the fact that many services were offered without considering individual or household living standards. The set of public interventions aimed at supporting the poorer and more vulnerable members of society, as well as helping individuals, families, and communities manage risk. We have analyzed the current state of social protection programs in Mongolia . Also, this study was conducted based on documents and statistics on about the major challenges in social protection policy changes.
Abstract: Organizational trust is the bedrock of an organization's long-term success and endurance. It fosters sturdier professional relationships and enhances collaboration. This study investigated the connections between organizational trust and employee job satisfaction The study utilized data from 145 employees of 'A' bank in Mongolia and conducted thorough analyses to evaluate the reliability and correlation of variables, employing structural equation modeling (SEM). The results of this study reveal positive correlations among all three trust dimensions and overall organizational trust, aligning with hypotheses H1 to H3. As anticipated, trust in upper management exhibited the most substantial influence (β=0.701), underscoring the pivotal role of leadership perceptions. Trust in peers (β=0.516) and supervisors (β=0.361) also displayed noteworthy contributions, emphasizing the significance of relationships across various organizational levels. Importantly, our investigation confirmed hypothesis H4, indicating a robust positive association (β=0.659) between organizational trust and job satisfaction. These findings collectively reinforce the critical linkages between trust dimensions, organizational trust, and ultimately, employee job satisfaction.
Initiative of financial literacy to the public is being implemented in cooperation with the relevant government and professional organisations for the purposes of increasing financial participation and improving financial decision-making of the citizens of Mongolia within the framework of developing the financial market and ensuring financial stability in the country. This initiative is expected to yield the following positive externalities: • Increase public knowledge of financial products and use them more effectively; • Improve citizens ability to choose the right financial product for their needs; • Prevent financial fraud and reduce the number of victims; • Increase individual savings and decrease non-performing loans; • Support participation and investment in the stock market. Legal environment • Article 5.1.7 “Protecting the legal rights and interests of bank customers and depositors” of the Law on the Central bank (Bank of Mongolia) is currently being implemented. • The Government is currently executing objective 6.2 of the “National initiative to develop Mongolia’s financial market until 2025” approved through resolution No.299 of 2017, which stipulates that “Every Mongolian citizen shall possess the knowledge, skills and confidence necessary to manage his/her personal and household finance in an appropriate way”. Financial knowledge is a critical component of financial literacy and helps individuals compare financial products and services, stay informed, and make the right decisions for their financial situation. With basic financial knowledge and simple calculation skills, an individual can confidently navigate his financial situation through market conditions and various types of information. According to the OECD, a combination of financial awareness, knowledge, skills, and attitudes is needed to make the right financial decisions and achieve personal financial well-being. In other words, it means that the attitude of individuals is more important than their financial knowledge and ability to make financial decisions. It is concluded that knowledge can be acquired through training with a set of programs, or financial institutions can improve the financial knowledge of citizens by providing financial education to their users in the framework of social responsibility. It is concluded that knowledge can be acquired through training with a set of programs, or financial institutions can improve the financial knowledge of citizens by providing financial education to their users in the framework of social responsibility.
International experience has shown that improving the financial and business education of business-women can make a significant contribution to improving the living standards of citizens and increasing their business profits. This study analyzes the processes of acquiring financial and business skills and creating knowledge of women who run a small and medium business. According to the training program, the training evaluation was conducted in two stages: initial and post-training. Assessed the knowledge and skills of women in small and medium business on cash management, household budget, risk management, financial planning, and business management. Assessing the content of the training program shows that women who run a small and medium business will be able to analyze their household budgets, make conclusions, and have a financial, business, marketing plan, and savings to improve their lives and expand their businesses.
At the global macro level, the risk management is necessary to properly manage and direct the effects of the financial crisis, economic growth, and increase the quality and availability of public services. By improving the risk management of the budget organization, the possibility of risk reduction increases. The Police and Domestic Military Organizations of Mongolia are organizations that carry out the main functions of fighting crime, maintaining public order, and ensuring public safety within the scope of their mandate provided by law. Internationally, there are two main standards for risk management: ISO 31000:2018 of ISO and COSO 2004 of COSO. Police and domestic military organizations comply with the international standard "ISO 31000:2018 Risk Management and Guidelines". In this study, we assessed the operational risks of the Police and domestic military organizations using a matrix method. The risks affecting financial reporting were assessed for 16 entities (units). When assessing the risks, the 5th unit is included in the most risky unit due to the insufficient organization of financial information processing, physical control activities and the assignment of tasks and duties. However, the units 15, 14, 7, 2, 16, and 8 have medium risk, and the units 3, 11, 1, 4, and 10 have low risk. In order to ensure the effectiveness of risk management, it is important that the leaders of the Police and domestic military organizations constantly evaluate the methods and processes of implementing risk management, solve the differences and weaknesses according to the framework of risk management, and make the necessary changes and improvements from time to time.
Advanced technology accelerates online banking services by using smartphones meanwhile bank offers sophisticated platforms that include a virtual assistant authentication system based on artificial intelligence. Penetrating fintech into banking services that eliminates a transaction cost and boosts comprehensive financial services, and changing lifestyles and attitudes of customers. Mongolian commercial banks are striving to increase online banking services and to upgrade technology within the framework of financial inclusion and literacy of customers that ensuring the efficiency of the financial system. This paper seeks to identify and analyze impacts of customer value, satisfaction, trust in a service, and reputation of bank that affecting customers’ motivation to regularly use online banking services. The data were collected from customers of Y branch of X bank by using a random sampling method and the partial least squares approach was used to test the hypotheses. The result shows that customer communication, customer value, reputation affect to motivation of customer to use online banking.
Abstract An individual is a primary participant in social relations, and many individuals participate in social life by forming groups according to their various goals and demands. An example is classmates and course participants for their studying purpose. Teachers and lecturers often work with small social groups of students. Therefore, it is necessary to know the psychology and organization of the group. The simplest and fastest way to determine group psychology and structure is sociometric research. Recently, the prediction methods can be used to identify the characterization of many kinds of networks in all fields of science. For example, in the biological sciences, biomolecular interaction network analysis is used to describe the interactions of small molecules within cells. This method is possible to identify the network and connections of individuals in social groups. In this work, we tried to analyze the classmate networks using the method that determine the interactions of the biological molecules. Furthermore, we compared the calculation with by sociometric survey. Comparing the resulting structure will allow for checking the reliability of the computer analysis.
This study aimed to determine the impact of financial literacy on financial behavior among teachers of secondary and high schools. Financial behavior in this study was explored as saving behavior, shopping behavior, short-term and high planning and long-term planning. Data were from collected from 3437 participants who were approached conveniently. Data were analysed using smart PLS. As a result, financial literacy had a significant positive impact on financial behavior in terms of saving behavior, short-term planning and long-term planning.
Тэтгэврийн хэмжээ тооцох аргачлал даатгуулагчдад адил байдаг. Тэтгэвэр тогтооход баримталж байгаа шимтгэл төлсөн хугацаа, дундаж цалин хөлс нь эрэгтэй, эмэгтэй даатгуулагчдад ялгаатай байна.Мөн эрэгтэйчүүдийн дундаж наслалт эмэгтэйчүүдийнхээс 6,7 жилээр богино, дундаж наслалтын зөрүү нь 9,67 жил, хөдөлмөр эрхлэлтийн харилцаан дахь эрэгтэй, эмэгтэй ажилтны цалингийн ялгаатай байдлыг өндөр насны тэтгэврийн тооцоололд харгалзан үзэх шаардлагатай
Abstract The sustainability and efficiency of the banking sector remain a key indicator of Mongolia's financial stability. The likelihood of lending at the banking system is high, due to this is explained by the fact that Mongolia is heavily dependent on economic diversification and reliance on fewer sectors Non-performing loans amounted to MNT 1.8 trillion, or MNT 10.7 percent in February, and overdue loans amounting to 0.9 trillion MNT or 5.4 percent of total loans (Mongolia, Bank of Mongolia, 2019) The non-performing loans accumulated in the banking system do not risk financial stability, but plans and systems for preventing and preventing risks are important in Mongolia. Non-performing loans of the economy make the intermediary's economic intermediary vulnerable to the financial system and thereby impair economic activity. The purpose of this study is to identify the factors affecting consumer loans in a branch at Bayanzurkh district of “X” bank and to detect possibilities to reduce non-performing loans.
