Approved foreign exchange business in April 2010
PRESS RELEASE Release Date: May 12, 2010
Approved foreign exchange business in April 2010
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. FuHwa Securities Investment Trust Co. and Schroders Securities Investment Trust Co. to conduct foreign currency discretionary investment business.
2. Manulife Asset Management Co. to act as a single master agent for Manulife Asset Management (Asia) Limited through sales agents in offering and selling offshore funds in Taiwan.
3. 64 branches of 8 banking enterprises to operate foreign exchange business. As of the end of April 2010, there were 1,561 authorized foreign exchange banks, including 1,467 domestic banks and 94 foreign banks. In addition, 16 branches of 6 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.