A decision on the widely expected dissolution of Anod Bank has once again been postponed, leaving the bank in business even after March. The Central Bank appointed a Receiver there last November and according to rules, he was to submit his final recommendation by February 22, giving Mongolbank another 30 days to take a decision.
The Receiver is yet to submit his recommendation. It is believed the Financial Regulation Department has suggested that the final decision on the bank be left to Parliament. The new Central Bank Law which took effect on March 1 also facilitates the postponement.
Shareholders are likely to be consulted before a decision is taken. However, Anod Bank is almost certain to go into liquidation if no investor comes forward with MNT250 billion.