Taiwan's Small and medium Business Credit Guarantee Fund (SMBCGF) reported yesterday that a number of banks are to start providing a combined T$1.5bn in lines of credit to small and medium-sized Taiwan-based enterprises on August 1 2001.
The Government of Taiwan is seeking to accelerate the introduction of a new law aimed at reducing the number of financial institutions operating in the country by encouraging mergers.
According to Jeff Liu, Senior Vice President of the Chailease Finance Corporation, several banks are currently urging the Ministry of Finance to allow them to provide an import factoring service.
Underlining an ongoing trend in Taiwanese banking, Dah An Commercial Bank have entered into a co-operative arrangement with the Chailease Finance Corporation.
From August 2000, clients of the Chailease Finance Corporation, Taiwan’s largest international factor, will be able to access their accounts on line.
