Approved foreign exchange business in April 2012
PRESS RELEASE Release Date: May 14, 2012
Approved foreign exchange business in April 2012
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Eastspring Investment Co. to conduct foreign currency discretionary investment business.
2. MaterLin Securities Co. to engage non-discretionary individually managed money trust.
3. 155 branches of 17 banking enterprises to operate foreign exchange business. As of the end of April 2012, there were 2,855 authorized foreign exchange banks, including 2,801 domestic banks and 54 foreign banks.