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Friday, 25 July 2008
Savings and Loan Credit Victims Divided, Hold Protest Print E-mail
By G. Oyun-Erdene   
Tuesday, 10 October 2006
Active ImageVictims of bankrupt savings and credit unions, carried signs while chanting during a protest this morning behind the government house. While victims from 22 different bankrupt institutions still hold one aim of being reimbursed, newly formed factions say they will approach the problems differently.

One group, the Temporary Committee of Saving and Credit Unions, gave a document to President N. Enkhbayar, concerning victims’ demands. “The main aim of today’s protest of the Committee is to get an answer on paper from the president,” said Manager of the Committee G. Oyuntsetseg.

The document calls for the founding of a working group to investigate total damages, the introduction of findings to parliament by the president and further investigation into the Mongol Bank, including finding funds to reimburse all the victims.

D. Tuya, head of the Association to Protect the Rights and Interests of Victims of Savings and Credit Unions told MonInfo, “We will battle gently and won’t politicize the situation.”

Active Image“We gave our documents to eight organizations. Now we are waiting for an answer from the 76 MPs, head of the State Great Khural and the prime minister. Only D. Gankhuyag MP gave us his answer. He sent us the working group’s analysis. On that document, they stated that the Mongol bank, the General Tax Authority and parliament should all be blamed.”

G. Erdenebayar, head of the law division of the Mongol Bank said, “We haven’t made any answer yet and I don’t know when it will be done.”

Protesters of the Committee added that they were going to their savings and credit union called “Ger district construction”, to reclaim the building which they say was built with their money.

Tuya said her Association would continue to push for answers from members of parliament and government organizations in their attempts to be reimbursed.

Victims claim that nearly 9,000 citizens have been affected by the 22 bankrupt unions and lost a total of US $55.6 million.

Images copyright Luke Distelhorst

Last Updated ( Tuesday, 10 October 2006 )