05 Oct 2018
Signing of Memorandum of Understanding between Cagamas Berhad and Mongolian Mortgage Corporation
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Kuala Lumpur, 5 October 2018 – Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia signed a Memorandum of Cooperation (MOU) with the Mongolian Mortgage Corporation HFC LLC (MIK) in Kuala Lumpur, Malaysia.
President/Chief Executive Officer of Cagamas, Datuk Chung Chee Leong and Chief Executive Officer of the MIK, Mr Gantulga Badamkhatan, signed the MOU which aims to enhance the mutually beneficial development of the secondary mortgage finance market in both countries. The ceremony was witnessed by the Chairman of Cagamas Holdings Berhad, Encik Nik Mohd Hasyudeen Yusoff, as well as senior officials of both organisations.
“The MOU marks an important milestone in the collaboration between Cagamas and MIK. Cagamas welcomes this initiative which aims to enhance the strategic cooperation between Malaysia and Mongolia, including amongst others, research and knowledge sharing related to housing finance. This initiative is in line with both institutions’ mandate to develop the secondary mortgage finance market,” said Datuk Chung.
“This cooperation is a synergetic effort from both parties in conjunction with the cooperation between the members of the Asian Secondary Mortgage Market Association (ASMMA) and the newly established International Secondary Mortgage Market Association (ISMMA), particularly in the development of the home mortgage financing market,” added Datuk Chung>br>
The implementation of the MOU is aimed at paving the way for greater collaboration as well as enhancing interlinkages and business opportunities between both countries.
President/Chief Executive Officer of Cagamas, Datuk Chung Chee Leong and Chief Executive Officer of the MIK, Mr Gantulga Badamkhatan, signed the MOU which aims to enhance the mutually beneficial development of the secondary mortgage finance market in both countries. The ceremony was witnessed by the Chairman of Cagamas Holdings Berhad, Encik Nik Mohd Hasyudeen Yusoff, as well as senior officials of both organisations.
“The MOU marks an important milestone in the collaboration between Cagamas and MIK. Cagamas welcomes this initiative which aims to enhance the strategic cooperation between Malaysia and Mongolia, including amongst others, research and knowledge sharing related to housing finance. This initiative is in line with both institutions’ mandate to develop the secondary mortgage finance market,” said Datuk Chung.
“This cooperation is a synergetic effort from both parties in conjunction with the cooperation between the members of the Asian Secondary Mortgage Market Association (ASMMA) and the newly established International Secondary Mortgage Market Association (ISMMA), particularly in the development of the home mortgage financing market,” added Datuk Chung>br>
The implementation of the MOU is aimed at paving the way for greater collaboration as well as enhancing interlinkages and business opportunities between both countries.
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