D. Tuya, head of the Association to Protect the Rights and Interests of Victims of Savings and Credit Unions said, “The government has to reimburse all the losses of every victim of these savings and credit unions as it was clearly mentioned in clause 2.1.5 of decree no.41 about approving a national program to provide Mongolian peoples’ human rights that the Parliament of Mongolia has passed.”
“I am appealing to the public and all the victims of SCUs ‘Let’s fight for our money,’ we have legal action in our hands that can be evidence of the Government not performing its 13 duties mentioned within Mongolia’s laws.”
Approximately 9,000 victims have been affected by the bankrupt unions and are demanding a reimbursement of US $55.6 million. In total, 22 of Ulaanbaatar’s 573 savings and credit unions went bankrupt, allegedly without compensating any of the victims.
On the steps of the government house, protestors said they are requiring answers from members of Parliament by October 8, 2006. If no reply is given protestors said they are planning to report these matters to the UN and the World Bank and will organize a hunger strike and more public demonstrations.
Last June D .Badraa, former Chairman of the Financial Regulatory Committee was murdered by D. Tumendemberel, Director of Ger Districts Construction savings and credit union as he was planning to introduce and remind the government to take required actions about stopping some credit unions’ activity.
The Financial Regulatory Committee was dealing with the inspections for some of big credit unions and discovered several contradictions among them, such as whether or not those unions were running their activities within the laws.
Protestors today said they will start to collaborate with Mongolian civil movements in their fight for compensation.
“If there are any problems that relate to the peoples’ rights and interests of victims, we will protest these issues,” S. Ganbaatar, leader of the National Soyombo Movement, told MonInfo Monday.
Source: MonInfo at
http://www.moninfo.org/content/view/272/8/lang,en/All images copyright: Luke Distelhorst
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Marking the first day of parliament’s fall session, victims of bankrupt savings and credit unions (SCU) started a protest today at 11:00 on Sukhbaatar square. Carrying signs and giving speeches on the parliament steps, the victims said they are trying to submit the ultimatum to each individual 76 members of parliament. 
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