N.Zoljargal, a former chief of Mongolia’s Central Bank or Mongol Bank has been released on bail. Ulaanbaatar’s Chingeltei District Criminal Court imposed a travel ban on N.Zoljargal but ruled that it was unnecessary to keep him in custody. N.Zoljargal was arrested on 29 November; the latest high-profile casualty of the country’s anti-corruption agency.

The prosecutor’s office has not officially charged N.Zoljargal with a crime and therefore the Chingeltei District ruled to release him. An investigation into not only the former Mongol Bank Governor but the whole administration of the central bank between 2012 and 2016 is being conducted by the Mongolian Independent Authority against Corruption (IAAC).

In a statement, the IAAC said,  that N.Zoljargal was arrested over the implementation of the  Chinggis bond and the price stabilizing programme. An unofficial source, however, goes further saying the former top banker was arrested on charges including an abuse of power for printing Tugriks, Mongolia’s national currency.