Anod Bank goes into liquidation

The Central Bank has finally decided that Anod Bank will go into liquidation. The Central Bank’s representative at Anod Bank, Mr. S.Enkhbat, clarified at a Press conference to reveal the decision that this 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. 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. No account holder in the bank has lost any money. All accounts with Anod Bank have been transferred to Savings Bank.