TAIWAN
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<i> Times Staff and Wire Reports</i>
Overseas Banking Rule to Be Eased: The Ministry of Finance has drafted plans to make it easier for local banks to open representative offices abroad, said Wang Ting-kuang, a director at the Bureau of Monetary Affairs. Banks that have operated international departments for more than a year will be allowed to open representative offices abroad, a reduction from the two years of international experience now required, he said. The proposal still needs the approval of Taiwan’s central bank.
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