Background
XAC (Golden Fund for Development) LLC began in 1998 as part of the “MicroStart Mongolia” project under UNDP, shortly afterwards transformed into Mongolia’s first NBFI (non-bank financial institution) by uniting the micro-financial service activities of six national NGOs (non-government organizations).
XacBank was formed on October 1, 2001 by merging the two largest NBFIs, (X.A.C. (Golden Fund for Development) LLC and Goviin Ekhlel (Gobi Initiative) LLC), in Mongolia.
Address: Prime Minister Amar's Street Sukhbaatar District, POBox-46/721 Ulaanbaatar 210646 Mongolia
As of June 2012, it has 1001-5000 employees
Read more about this topic: Xac Bank
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