Page 463 - 2019 6th AFIS & ASMMA

Remarks of Outgoing Chairpersonship initiative and all the countries prone to natural disasters should consider
the approach. After all, our business is people’s business. This statement
was told me by Datuk Ooi Sang Kuang, the former chairman. I had a
chance to meet with him in one of the events, where he congratulated
Gantulga Badamkhatan me on the job and said, “In the end, our business is for people.” I believe
CEO of Mongolian Mortgage Corporation he is correct. Mortgage loan as a financial product is not designed for
everyone. It has strict eligibility criteria, with a long-term maturity, when
the future is largely unknown. We can learn various types of risk related
with mortgage loans. In other words, I believe our creativity can help
It’s been my pleasure to serve you today as a chairperson. Since the last address the issues with mortgage loans.
ASMMA event, we have been involved in a number of initiatives, and
had a very busy year of advancing our businesses. Now our job would be ASMMA actually provides a platform where we can freely, and
to modify the existing charters to accommodate all the issues discussed voluntarily exchange our experiences. I will consider what I learned
today. Today, in the ASMMA annual meeting, we had presentation today and take the good practices to home in charting new directions
from 12 countries; 12 different approaches on how to create sustainable to meet the housing needs of Mongolian people. From Mr. Lee’s
housing system under system of each county, which reflects different presentation yesterday and today, I could sense his deep commitment
historical background, different social economy of countries, as well as on delivering sustainable development goal. I think other countries are
financial sector development. In the end, we are all trying to achieve the taking the goal into account and set up their own targets. The SDG
best we can in given conditions. Article 11 for sustainable development indeed points to the affordable
housing, which makes cities sustainable. And making cities sustainable
I think what today’s presentations had in common was required is related to green, energy efficient buildings. If we have these green
inclusiveness of housing finance. Our endeavors, and our aspiration is to buildings, we can have an access to green finance. It seems that green
make housing finance more affordable. There was also a new dimension finance is social bonds, a future trend for all of us. We should also make
presented by KHFC, which assists housing affordability for young adults, our voices heard to the authorities, asking them to redefine building
who cannot pay their down payments, and provides reverse mortgage standards toward green building. In addition, we need to have a long-
product for senior citizens, assisting their financial stability. With these term perspective, connecting this issue with the global climate change.
credit guarantee and reverse mortgage programs, KHFC is effectively For me, this is was the key takeaway from today’s event.
addressing these issues.
Now, let me finish my words here. I would like to sincerely thank
I also learned that Malaysia has a new initiative on home equity Mr. Lee for hosting ASMMA, for his hospitality, and for the excellent
scheme. It also helps young adults who cannot afford to pay the down organization of the event. I also want to thank Mr. Adil for his kind
payment. So in a way, it provides a solution to existing mortgage loans. acceptance to host the next ASMMA Meeting.
It was very interesting to me that Indonesia has a disaster recovery
mortgage program. Natural disaster occurs without a warning, affecting Ceremony
numerous lives. In this regard, a program that provides relief from Closing
disasters’ pernicious effects are most welcome. I think it’s a very good

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