Gold reserve of Mongol Bank increases

Feb 25 • Banking, Business, News • 679 Views • No Comments on Gold reserve of Mongol Bank increases

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With the abolishment of the 68% windfall profit tax from January 1, 2011 the Mongol Bank official says that more gold are being deposited in the Mongol Bank. The Bank bought 224.7 kg of gold up to February 18, 132 kg or 2.4 times more than in the same period last year. The amount of gold in the Treasury Fund went down by eight tons during 2007-2010 but it is looking to increase from the year 2011. The abolishment of the windfall profit tax attracted greater foreign investment because it created ideal environment for investment.

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