FRC has organized 5 regional discussions on regulations with international consultants' inputs on such issues as stabilization fund, regulation and supervision system. In total, 348 board and elected members from 136 SCCs have participated and actively involved to the revisions of the regulations. Regulatory consultant made her recommendations and The regulatory advisor's proposal discussed amongst the stakeholders. Finalized revisions into Stabilization fund regulation with inputs from Regulatory advisor approved by FRC in December 2014. General regulation is presented for confirmation.
On-site and off-site supervision requirements were revised with inputs from ADB consultants and private sector, and were approved FRC management. The development of risk-based inspection is ongoing.
SCCs prepared the financial report for 2013 year end and for 2014 in compliance with the newly approved regulation on prudential ratio. FRC inspectors reviewed the reports and provided necessary comments and advices.
Second assessment has started in June and completed by November covering 95.7% of all SCCs. Consolidated reports and comparative statements introduced to PSC in December 2014. Final report will be introduced to the FRC in February, 2015
M&E team has developed the methodology to assess the effectiveness of SCC capacity building training.
The financial ratio analysis for the sampled 30 cooperatives will be done based on FRC 2014 annual reports in the second quarter of 2015.
Data for this indicator was collected from respondents who participated in the financial education survey. 749 respondents took part in the survey.
TV series with 24 episodes total lasts of 840 minutes completed in December 2014.
Broadcasting started in January 2015 via Edutainment channel all over the country. The pre and post drama survey completed. The unified report will be developed after endline survey is completed. Baseline survey data collection and data entry was completed. The report is finalized both in English and Mongolian. The TV drama became the 2nd most watched TV show through Education TV channel, one of the most popular TV channels nationwide. According to the program analysis of Maxima media, 33.6% of television-watching adults (male and female) watched the TV drama. Amongst the audiences, unemployed people with lower economic condition were the main audience of the program.
Financial education functional tests have been developed and finalized. The software was developed, tested and finalized. Text-in message survey completed. The full survey included 6 short surveys with 24 questions. More than 50% of those surveyed (male and female) have correctly responded to multiple choice television questions on financial education messages. 84.1% of surveyed responded that their financial literacy improved after watching the TV drama.
SCC test results are compiled. Training test results will be incorporated in SCC assessment report.
The financial performance analysis of the sampled project participating SCC s will be finalized in the second quarter of 2015 based on FRC data.
Financial education baseline survey is completed and report is finalized both in Mongolian and English.
The endline survey will be conducted in May-June 2015. The comparison analysis of pre-post survey will be completed by mid July 2015.