Approved foreign exchange business in October 2012
PRESS RELEASE Release Date: November 13, 2012
Approved foreign exchange business in October 2012
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. First Commercial Bank to negotiate the exchange rate with their customers for the purchase of foreign currency cash and traveler’s check through internet and mobile phone.
2. ACE Life Taiwan to conduct non-investment-linked insurance business settled in foreign currencies and foreign currency loans secured by the same insurance policy.
3.10 branches of 2 banking enterprises to operate foreign exchange business. As of the end of October 2012, there were 3,217 authorized foreign exchange banks, including 3,166 domestic banks, 2 Mainland banks and 49 foreign banks.