By: Tsai Yi-chu and Frances Huang
Taipei, Aug. 8 (CNA) The local financial sector has expressed hope that the government will ease rules on lending in a bid to facilitate the local long term care business in an aging society, according to a white paper from the sector.
In the white paper, in which suggestions are made to the government for the development of the financial sector, the Taiwan Financial Services Roundtable (TFSR), which was founded by local financial associations and related organizations, said that the government should allow banks to extend more loans to the local long term care industry.
The TFSR said that the banking sector should be granted an exemption from the restrictions imposed by the Banking Act in their lending to the local property market if the money is to be used in the country’s long term care business such as the construction of long term care villages for the elderly. [FULL STORY]