Approved foreign exchange business in March 2011
PRESS RELEASE Release Date: April 12, 2011
Approved foreign exchange business in March 2011
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Deutsche Bank, Taipei Branch to operate foreign exchange business with client instructions received via internet.
2. DBS Bank Ltd., Taipei Branch to offer structured products composed of FCY options linked to FCY Time Deposits.
3. 40 branches of 11 banking enterprises to operate foreign exchange business. As of the end of March 2011, there were 1,740 authorized foreign exchange banks, including 1,673 domestic banks and 67 foreign banks.