Central Bank of the Republic of China (Taiwan)

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Press Releases

Approved foreign exchange business in August 2018

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                 Release Date: September 12, 2018                         

Approved foreign exchange business in August 2018

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

1.    Standard Chartered Bank to provide digital foreign exchange deposit account opening service to customers.

2.    Taipei Fubon Commercial Bank to engage in foreign securities trading business provided such trading is neither an investment of proprietary funds nor done to meet hedging purposes.

3.    First Securities Investment Trust Co., Ltd. to act as a single master agent in offering and selling offshore funds in Taiwan.

4.    CTBC Investments Co., Ltd. to handle private placement of funds denominated in foreign currencies (including Renminbi).

5.    SinoPac Futures to accept the designation of overseas Chinese and foreign nationals to conduct foreign currency discretionary investment business.

6.    Three branches of two banks to operate foreign exchange business. As of the end of August 2018, there were 3,439 authorized banks, including 3,401 domestic banks, 3 Mainland banks, and 35 foreign banks.