Approved business in October 2008
PRESS RELEASE Release Date: November 12, 2008
Approved business in October 2008
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. King's Town Bank to sell/buy Renminbi banknotes.
2. Aberdeen International Securities Investment Consulting Co. to act as a single master agent for Aberdeen International Fund Managers Limited in offering and selling offshore funds in Taiwan.
3. Harvest Securities Investment Consulting Co. to act as offshore funds’ domestic trustees to manage the sale of funds to specific clients privately.
4. ING Securities Co. Ltd. to handle consigned trading of foreign securities.
5. 8 branches of 4 banking enterprises to operate foreign exchange business. As of the end of October 2008, there were 1,306 authorized foreign exchange banks, including 1,218 domestic banks and 88 foreign banks. In addition, 6 branches of 3 banking enterprises to sell/buy foreign currency banknotes and traveler’s checks.