Approved foreign exchange business in February 2011
PRESS RELEASE Release Date: March 15, 2011
Approved foreign exchange business in February 2011
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Mega Securities Co., Ltd. to operate non-proprietary fund investment or hedging related foreign securities trading business involving inward and outward remittances.
2. Shinkong investment Trust Co., Ltd. to conduct foreign currency discretionary investment business involving inward and outward remittances.
3. 21 branches of 5 banking enterprises to operate foreign exchange business. As of the end of February 2011, there were 1,700 authorized foreign exchange banks, including 1,633 domestic banks and 67 foreign banks.