The central bank yesterday punished four foreign banks for helping grain merchants speculate in New Taiwan dollar-deliverable forwards in contravention of foreign-exchange regulations.
In a statement issued on its Web site, the central bank said it has revoked the Deutsche Bank Taipei branch’s licenses to trade NT dollar deliverable forwards and NT dollar non deliverable forwards.
The branch has also been banned from foreign-exchange derivatives transactions for two years, the statement said.
The central bank has banned the Taipei branches of ING Bank NV and Australia & New Zealand Banking Group Ltd from trading NT dollar deliverable forwards and NT dollar non
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Citibank Taiwan wins ESG award at Taiwan Banking and Finance Best Practice Awards
Staff writer
Citibank Taiwan Ltd (台灣花旗) was presented with the Best Environmental, Social and Governance (ESG) Award at the Taiwan Banking and Finance Best Practice Awards known as the Oscars of the financial sector at a ceremony hosted by the Taiwan Academy of Banking and Finance in Taipei on Friday.
It is the first ESG award given by the academy, signaling that financial institutions are increasingly being influenced by ESG issues.
“We are honored to be recognized by the Taiwan Banking and Finance Best Practice Awards this year. At the same time, we also see that companies all over the world are paying more and more attention to ESG,” Citibank Taiwan chairman Paulus Mok (莫兆鴻) said in a statement. “Citibank Taiwan has enhanced its corporate social responsibility [CSR] with the framework of ESG profiles, and our ESG efforts have also truly reflected the hard work of all ou