Bank of Taiwan (臺灣銀行)

During the Japanese occupation of Taiwan in 1899, the Bank of Taiwan was founded as the nation's central bank. The Bank Act of Taiwan, which encouraged Japanese businesses like the Mitsubishi and Mitsui Companies to invest in Taiwan, authorized the bank's establishment in 1897. The Nippon Kangyo Bank and the Bank of Taiwan then worked closely together. These banks' 1927 financial crisis was alleviated thanks to help from the Bank of Japan. As the Japanese empire grew, new bank branches were established throughout Asia, especially in China and Southeast Asia.

Once the Japanese surrendered in 1945, the Chinese Nationalist Party (KMT), which led the ROC government, gained control of the Bank of Taiwan and started printing Taiwan dollars, also known as Taiwan Nationalist Yuan, through it. The "old Taiwan dollar" is the name given to this money at the moment. The Bank of Taiwan introduced the New Taiwan dollar in 1949 as a result of the Chinese Civil War's severe currency inflation.

The Bank of Taiwan assumed a more important role as the ROC's central bank until the Central Bank of China was restored in 1961 following the KMT's defeat on mainland China in the Chinese Civil War and its subsequent retreat to Taiwan. Up until 1998, the Bank of Taiwan was managed by the Taiwan Provincial Government before becoming the responsibility of the ROC Finance Ministry. The New Taiwan Dollar was first issued in 2001 by the Central Bank of China.

Founded: 1897
Headquarters: Taipei, Taiwan
Website: https://www.bot.com.tw