The Mongolian parliament on Friday appointed Byadran Lkhagvasuren as the new governor of the Bank of Mongolia, the country’s central bank.
Lkhagvasuren replaced Nadmid Bayartsaikhan, who presented his resignation letter on Nov. 15, after Mongolia was added to the Financial Action Task Force’s “grey list,” NAN reports.
It was added to the list for failing to meet standards related to combating money laundering and the financing of terrorism.
Prior to his appointment, Lkhagvasuren served as vice chairman of the Bank of Mongolia.