![\"\"](\"\/wp-content\/uploads\/2011\/02\/P9036852.jpg\" "\\"Shining")
<\/a><\/p>\nToday we were to have the opportunity to speak to Jargalsaihan Dambadarjaa, chairman of Xacleasing and a seasoned financial professional known regionally for his adept employment of Social Media. \u00a0As a prolific blogger<\/a> concerned with the well being of his countrymen, Mr. Dambadarjaa engages sociopolitical issues through both his publishings and the daily work he does at the head of Xacleasing, a member company of Tenger Financial Group. \u00a0With Ariunna, Dr. D’s daughter, at our side, we considered some final questions for the seasoned financial professional in this no doubt arduous and\u00a0volatile\u00a0financial climate.<\/p>\n XacLeasing, the firm which Dr. D chairs engages in what it discribes as a kind of Microfinance. \u00a0While generally considered a socially organized financial arrangement in which money is pooled to provide loans on the magnitude of 3 to 4 figures, microfinance in Xacleasing’s case deescribes loans generally\u00a0considered\u00a0small by international commercial banks. \u00a0In the case of Xasleasing, these loans to\u00a0individuals, small ventures, and\u00a0medium\u00a0sized enterprises are collateralized by assets such as construction, transport, or mining\u00a0equipment, and in the occasional case, real estate.<\/p>\n With Dr. Dambadarjaa, we\u00a0discussed\u00a0the nature of recent growth in the Mongolian economy driven by resources, the fledgling financial market, and the gigantic untapped potential on regional borrowers and lenders, most of whom were modest in size.<\/p>\n He encouraged us to continue our investigation of the economy through his firm, and to that end introduced us to the Philipp Marxen, a recent recruit from Germany who now headed up Tenger’s China investment office.<\/p>\n Philipp went into detail describing Tenger’s efforts in developing microsavings accounts with no minimum balance marketed toward first time bank customers in the country. \u00a0I could relate to the fellow as a lad with a taste for adventure and a penchant for frontier markets. \u00a0With experience leading investment project’s in Paraguay’s agricultural market and a licensed\u00a0derivatives\u00a0trader on the European Energy\u00a0Exchange, Philipp \u00a0came to Mongolia seeking career development alongside the change to do something truly different.<\/p>\n After an informed\u00a0explanation\u00a0of the regulatory environment of Chinese consumer\u00a0finance, Philipp invited us out for \u00a0lunch at a local Indian restaurant which apparently garnered some fame. \u00a0Sipping down Lassis, Philipp delved into his background further. \u00a0By the time we had finished, the Mongolian microfinance landscaped looked\u00a0significantly\u00a0more fascinating than it had when it was completely opaque that morning.<\/p>\n Strolling off the rice and curry, we walked to the splendorous main square in front of Mongolia’s parlament, the great Khan holding court atop a mighty steed.<\/p>\n Across the street, we saw a forlorn pink building in a fantastic location. \u00a0Upon further inspection, it revealed itself as the Mongolian Capital Market, commonly known as the Mongolian Stock Exchange<\/a>. \u00a0Rapping on the door and speaking to the attendant, we were able to garner a guided tour through the establishment. \u00a0Each broker member of the exhage has a seat at the exchange to trade on behalf of its clients, and the exchange is open for one hour each day. \u00a0For most of Asia’s exchanges, the Mongolian Stock Exchanges trading hours represent a lunch break.<\/p>\n Fascinated by the exchange’s earnest and deserted interior, we perused the walls, looking at charts of bond issuance and stock offerings over the past couple of years. \u00a0We took a lucky moment to host a brief press conference in front of the marble backdrop of the press box.<\/p>\n Considering\u00a0the\u00a0challenges\u00a0and thrills of operating in such an environment, our minds entertained ideas of new ventures in Mongolia. \u00a0Was this country to become the next Dubai or the next Kazakhstan as a result of its newfound resource wealth? \u00a0How much of the extracted value would recycle its way back into the economy of the nation? \u00a0Was the role of a small and illiquid equity market on its way to playing the role of its larger Indonesian<\/a> counterpart? \u00a0We pondered thee thoughts over a small feast of mayonaise carrots.<\/p>\n<\/a><\/a><\/p>\n<\/a><\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n