The scope of business a credit cooperative may engage in or carry on shall be set out in the business license as authorized by the Central Competent Authority, who shall not approve any business other than the business of providing services to:
1. Accept checking deposits;
2. Accept demand deposits;
3. Accept term deposits;
4. Accept saving deposits;
5. Provide short-, medium- and long-term loans;
6. Discount negotiable instruments;
7. Invest in government bonds, short-term bills, corporate bonds and bank debentures;
8. Conduct domestic remittance business;
9. Engage in credit cards and other similar businesses;
10. Handle commercial drafts;
11. Issue domestic letters of credit;
12. Provide domestic guaranty;
13. Act as collecting and paying agent;
14. Underwrite government bonds, treasury bills, corporate bonds, and company stocks;
15. Engage in warehousing, custodial, and agency services related to business described above;
16. Act as a receiving agent for banks in foreign exchange business; and
17. Engage in other related businesses, which may be approved by the Central Competent Authority.
The eligibility requirements and the maximum amount of business a non-member may be permitted to transact shall be determined by the Central Competent Authority.