On January 10th, 2019, LendMN NBFI JSC delivered the following announcement to MSE:
"In accordance with the Law on Non-banking financial activities and the Regulation on non-banking financial activities, 'LendMN NBFI' JSC has been providing the Lend Wallet service under the licenses of “Electronic Payment and Remittance Service” and “Issuance of Settlement Instruments” granted by the FRC Resolution No.193 of May 23rd, 2018. The related approval can be viewed from the following link of the FRC website https://www.frc.mn/legal/detail?id=5924.
“LendMN NBFI” JSC has approached the Bank of Mongolia for the clarification of the certain legal issues and inconsistencies and is working to resubmit the license application to the Bank of Mongolia as these issues are identified."
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