The 30-year-old has one year left on his current contract and has yet to be offered a new deal at the Emirates Stadium.
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"This is not the best time to talk about Bacary's future," Mongai told Russian newspaper Izvestia.
"He's contracted to Arsenal and the season is still not over. We'll see what happens in the summer."
Russian giants Anzhi Makhachkala, along with cash-rich French duo Paris Saint-Germain and Monaco, have been linked with a move for the right-back.
The Frenchman arrived at Arsenal from Auxerre in 2007 for an undisclosed fee.