Most of the funding for this portion of Taiwan’s energy development is coming from international banks, with much of it guaranteed by foreign export credit agencies. Taiwan’s ambitious program to promote offshore wind power as a major energy source – installing over 700 turbines in the Taiwan Strait by 2025 – will require an estimated…
Visa Direct – the more secure, convenient and cost-effective way for international remittance With the rise of fintech, banking is no longer confined to a particular place but is something we can do from anywhere. As banking undergoes industry-wide transformation, financial institutions and technology companies are working together to find new solutions that can better…
More education is needed on the importance of investment and savings for old age. Taiwan will soon join the ranks of “super aged” societies, with one in five Taiwanese 65 years old or older by 2025. Among the factors regarded as contributing to Taiwan’s extremely low birth rate are stagnant wage levels, which have made…
Taiwan’s ambitious plans to develop offshore wind power spur a need for project financing. International banks have held a rather limited market share in Taiwan, but one area in which they have a potential competitive edge by virtue of their technical expertise in the financing of major projects. In recent years, such projects have…
As paradigms in the banking industry shift rapidly, the future of banking hedges on innovation, specialization, and mastery of the digital business landscape. In the past year, volatility in global and regional markets—from the plunge in oil prices to post-Brexit uncertainties—has made Taiwan’s banking industry keen to bring stability and growth to the financial liberalization…
Once saddled with a huge volume of non-performing loans, the farming credit system has strengthened under the supervision of a state-backed agricultural bank. Taiwan’s agricultural finance system has evolved considerably since the early 2000s when it was burdened with a large volume of non-performing loans (NPLs). The dire state of Taiwan’s rural finances at that…
In January, outgoing Financial Supervisory Commission (FSC) chairman William Ming-chung Tseng (now a member of the Legislative Yuan) highlighted the slow pace of consolidation in the banking sector as a major regret of his FSC tenure. When he was appointed head of the FSC in 2014, Tseng called for consolidation in a bid to streamline…
State coffers are benefiting from a rise in tax revenue, but Taiwan’s tax-to-GDP ratio remains among the lowest in the developed world. Revisions to tax policy are bringing increased revenue into Taiwan’s national treasury, giving a boost to public finances as the government grapples with ballooning debt and anemic economic growth. Analysts and the government…
Rebuffed in its bid to be among the bank’s founders, Taiwan is expected to apply for regular membership. Several hours before the midnight deadline on the evening of March 31, Minister of Finance Chang Sheng-ford sent a fax to the preparatory office for the Asian Infrastructure Investment Bank (AIIB) in Beijing expressing Taiwan’s desire to…
The sector netted record profits in 2014 on the back of burgeoning offshore business, especially in China. The crowded Taiwan banking sector is finding room to breathe at last. Rapid expansion of offshore business amid deregulation and improving asset quality helped banks post a record NT$332.8 billion (US$10.7 billion) in profits in 2014, according to…
