Approved foreign exchange business in August 2014
PRESS RELEASE Release Date: September 12, 2014
Approved foreign exchange business in August 2014
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1.Chinatrust Commercial Bank to accept time deposits in foreign currencies through online banking service or phone banking.
2.Yuanta Commercial Bank to issue Gold Passbook denominated in US Dollars through over-the-counter or online banking.
3.6 branches of Land Bank of Taiwan , 2 branches of Chinatrust Bank and 1 branch of Bank of Taipei to operate foreign exchange business. As of the end of August 2014, there were 3,389 authorized foreign exchange banks, including 3,350 domestic banks, 3 Mainland banks and 36 foreign banks.