61.   Vichit Suraphongchai, chairman of the new bank, said that in the initial stages the bank will simply take deposits.

62.   In its promotion drive, the firm has stopped taking deposits from potential customers.

63.   Islamic banks take deposits but earn investment returns through shares and provides depositors with dividends rather than interest payments, which are prohibited under Islamic rules.

64.   A building society takes deposits from members and lends to people who want to buy a home.

65.   At present, foreign banks are restricted to hard currency transactions and banned from taking yuan deposits or extending yuan loans.

66.   But new entrants would be barred from taking deposits in foreign currencies or sending remittances.

67.   Managing director and chief executive George Trumbull also said the group was keen to take deposits under a structure known as AMP Bank.

68.   Prudential said it will submit an application to the Bank of England for a licence to take bank deposits.

69.   The banks can take deposits and give loans in yuan and provide yuan guarantees but only to foreign customers within Shanghai.

70.   The houses had offered to invest in foreign currencies for clients and taken their deposits.