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Press Releases

Approved foreign exchange business in June 2016

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                                            Release Date: July 12, 2016                                     

Approved foreign exchange business in June 2016

In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:

1.    Authorized banks to provide cardless foreign cash withdrawal through foreign currency ATMs.

2.    Taipei Fubon Commercial Bank to engage in non-discretionary individually managed money trust business denominated in foreign currencies.

3.    Bank SinoPac to provide overseas consumption tax refund with Global Blue .

4.    Taiwan Depository and Clearing Corporation to engage in Information Transfer and receipts and disbursements of onshore funds .

5.    Global Link Securities to conduct consigned trading of foreign securities involving receipts and disbursements settled in foreign currencies.

6.    UOB Asset Management (Taiwan) Co.,Ltd. to handle public offers or private placement of funds denominated in foreign currencies (including Renminbi).

7.    HSBC Global Asset Management (Taiwan) Limited to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

8.    Dazhi branch of KGI Bank to operate foreign exchange business. As of the end of June 2016, there were 3,413 authorized banks, including 3,373 domestic banks, 3 Mainland banks and 37 foreign banks.