Thursday, August 28, 2014

Taiwan plans to help Mongolia in capital market

Taipei, Aug. 27 (CNA) Taiwan plans to help Mongolia set up trading on an emerging stock board and a deposit insurance system, Financial Supervisory Commission (FSC) Chairman Tseng Ming-chung said Wednesday.

Tseng plans to visit Mongolia Thursday, a reciprocal visit following that country's financial supervisory officials' trip to Taiwan in July.

The FSC may sign a supervisory memorandum of understanding (MOU) with its Mongolian counterpart during the trip for the trading on an emerging stock board, a market with less strict regulations than the over the counter (OTC) market, according to Tseng.

The Mongolian authority has also shown interests in deposit insurance, he added.

Tseng said helping Mongolia improve its capital market could showcase the international credentials of Taiwan's capital market.

(By Wu Ching-chun and Kuo Chung-han)

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