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COPYRIGHT 2003 Asia Pulse Pty Ltd
An executive briefing on banking for June 26, 2003, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
CHINA'S ICBC JOINS ISDA
BEIJING - The International Swap and Derivative Instrument Association has accepted the Industrial and Commercial Bank of China (ICBC), the largest commercial bank in China, as an official member.
ISDA is a major global trading organization, representing participants in the trading of derivatives, including swap of interest rate, currencies, merchandise and equities. The association was founded in 1985 and now has over 600 members, including major institutions in the derivative instrument business and other enterprise clients using derivative instruments.
CHINA'S MINSHENG BANK LAUNCHES COMMERCIAL PAPERS IN FOREX
SHANGHAI - China Minsheng Banking Corp. Shanghai Branch has launched outright purchase of commercial papers in foreign exchange, a new way of trade financing for Chinese importers and exporters.
The operation has won widespread appeal. The total amount that has occurred so far has reached US$31 million.
PAKISTAN'S UNION BANK AND AMERICAN EXPRESS LAUNCH CREDIT CARDS
KARACHI - Union Bank and American Express on Tuesday launched Union Bank American Express Green and Gold credit cards and, for the first time, American Express Credit Cards are being made available in Pakistan through a partnership between the two....
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