Home The deposits of Bangladeshis in Swiss banks increase 20pc in a year

The deposits of Bangladeshis in Swiss banks increase 20pc in a year

A report by the central bank of Switzerland claims that the Bangladeshis’ deposit in Swiss Banks climbed to 20.18 percent year-on-year in 2016 to 661.96 million Swiss francs or Tk 5,575 crore.


Zurich-based SNB revealed the data in its annual report titled 'Banks in Switzerland 2016'.


The amount was counted as Tk 4,423 crore in 2015 and Tk 4,283 crore in 2014, show the data by the Swiss central bank.


The total funds held by all foreign clients of Swiss banks also increased to 1.42 trillion francs in 2016 from 1.41 trillion francs a year ago.


The deposits climbed up in case of Bangladesh despite an ongoing global clampdown on the famed secrecy wall of Swiss banking system.


The report, however, does not shed light on the alleged black money held by Bangladeshis.


Moreover, the United Kingdom has the biggest deposits in Swiss banks. In South Asia, Pakistan leads with the largest deposits, followed by India whose deposits are down by more than half, with Bangladesh in third position.


On the other hand, Indian nationals' deposits in Swiss banks fell down to 664 million francs last year from 1.2 billion francs in the pervious year.


In November 2016, India became one of a select group of countries to get advantages from an annual automatic exchange of banking information with Switzerland.

This would ensure that financial information on bank accounts held by Indian citizens in Switzerland and vice-versa would be shared annually.


Pakistani nationals' deposits in Swiss banks also fell to 1.386 billion francs last year from 1.477 billion francs in the previous year.

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