Anod
Bank is to go into liquidation. The Mongolbank directors’ board decided this on
Thursday. The information was given at a press conference by Mongolbank vice
president D.Zoljargal, Head of Monetary Policy and Research Dept. D.Bolbaatar
and the Central Bank’s representative at Anod Bank, S.Enkhbat.

Enkhbat
underlined that it was not an announcement of bankruptcy, which is something that
only a court can do. The State Investigation Authority is inspecting 40
organizations that took loans from Anod and claims to recover loans worth MNT
40 billion are being filed in courts. No account holder in the bank has lost
any money.

Director
of Mongol Gazar Ts.Myanganbayar is being investigated for not repaying MNT10
billion to Anod and MNT60 billion to Zoos Bank that has also been wound up.