Important Measures in February 2008
PRESS RELEASE Release Date: March 12, 2008
Important Measures in February 2008
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank took the following measures in February 2008:
1. Approved Nan Shan Life Insurance Co. to operate foreign currency loans secured by investment-linked insurance policy.
2. Approved Grand Cathay Securities Investment Trust Co. to act as a single master agent for SGAM Luxembourg S.A. in offering and selling offshore funds in Taiwan.
3. Approved Taiwan Securities Investment Trust Co. to act as a single master agent for Jupiter Unit Trust Managers Limited in offering and selling offshore funds in Taiwan.
4. Authorized 6 branches of 2 banking enterprises to operate the full range of foreign exchange business. As of the end of February 2008, there were 1,220 authorized foreign exchange banks, including 1,158 domestic banks and 62 foreign banks.