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During the "Grand Bull Awards 2023," a prestigious event that honors excellence in Mongolia's capital market every 5 years, "Mongolian Mortgage Corporation HFC" LLC (MIK) secured dual accolades in the categories of "Best securities issuer in the financial sector" and "Best product of OTC market.”

Since its establishment in 2009, MIK has adeptly navigated both foreign and domestic regulated markets, successfully issuing securities. Notably, the "Oelun Bond" secured $300 million in 2019, followed by the issuance of the "Borte Bond" with a value of $250 million in 2021, both in the international capital market. This strategic initiative resulted in a total bond trade value of $550 million, augmenting Mongolia's foreign currency reserves and enhancing the liquidity of banking and financial institutions. Particularly noteworthy is MIK's resilience during the global pandemic-induced state of emergency, marked by closed borders and curfews. Despite these challenges, MIK raised $250 million through electronic communication with investors, underscoring the stability of its international reputation and operations, providing a solid foundation for future endeavors.

Since 2019, a total of 16 special-purpose companies (SPCs) have been established, facilitating the issuance of 37.6 thousand mortgage loans amounting to a substantial 2.7 trillion MNT in Residential Mortgage-Backed Securities (RMBS). Notably, the most substantial transaction within this period was conducted by SPC 33, with a remarkable total issuance of 560.3 billion MNT in the year 2023.

Initiated by member organizations of the Mongolian Association of Securities Dealers, the "Grand Bull Awards" ceremony has been held every 5 years since 2013. This prestigious event selects the best performers from both public and private sector companies, as well as professional market participants. In the current year, entities offering professional services in the capital market and issuers vied for recognition in 15 distinct categories. The competition saw active participation, with over 70 organizations submitting a total of 94 candidate materials for consideration.

Established in 2006 through collaboration between the Bank of Mongolia and 10 commercial banks, the Mongolian Mortgage Corporation (MIK) was formed in alignment with the recommendations of the United States Development Agency (USAID). The primary goal was to enhance the accessibility of housing loans in Mongolia and establish a robust housing financing system.

Since 2013, MIK has actively participated in the government's subsidized interest rate mortgage loan program, contributing to the development of a well-structured financing system. To date, MIK has achieved significant milestones by successfully issuing mortgage-backed securities totaling 6.37 trillion MNT, benefiting a substantial 109.5 thousand households. This reflects MIK's commitment to promoting housing affordability and stability in Mongolia.