Economy Desk: The rate at which Bangladeshis withdraw money from Swiss banks has been increasing for the past few years. Last year, the amount of Bangladeshi deposits in Swiss banks decreased from 5.5 million Swiss francs to 1.8 million francs.
This information was mentioned in the annual report published by the Swiss National Bank (SNB), the central bank of Switzerland, on Thursday, June 20. News from The Financial Express.
This speed of withdrawing money from Bangladeshis’ banks is said to be intense. Earlier, SNB’s 2022 annual report showed that in 2021, the amount of Bangladeshisdeposits in Swiss banks was 871.1 million Swiss francs. But the next year, i.e., in 2022, it decreased to 5 million 50 million francs.
According to the review of the report, the amount of money deposited by Bangladeshis in Swiss banks reached 872 million Swiss francs in 2021. Which is the highest amount of money deposited by Bangladeshis in the country’s banks?
However, in 2020, the amount of money deposited by Bangladeshis in Swiss banks was less than the previous year. That year, the amount of money collected by Bangladeshis in Swiss banks was 56 million 30 million Swiss francs, which is more than 5 thousand 203 crores in Bangladeshi currency.
The previous year, i.e., in 2019, the amount of money deposited by Bangladeshis in different banks of the country was 603 million francs. In 2018, this amount was 620 million Swiss francs. And in 2017, its amount was 66 million, or 19 million Swiss francs.
Meanwhile, the rate of money deposits in Swiss banks by various institutions and citizens of Bangladesh’s neighboring India has decreased by about 70 percent in 2023. In 2023, deposits by Indians reached a four-year low.
However, the UK is at the top of the list of foreign customers depositing money in Swiss banks. British citizens have 254 billion Swiss francs in various banks in Switzerland. The United States is second on the list with 71 billion Swiss francs.
And France is in third place on this list. The country’s citizens have about 64 billion francs in Swiss banks. After those three countries, the top ten countries are the West Indies, Germany, Hong Kong, Singapore, Luxembourg, and Guernsey.
Indian money in Swiss banks stands at 1.04 billion Swiss francs despite declining deposits, which is about 9 thousand 771 crore rupees in Indian currency. With this, the deposits of Indian institutions and citizens in Swiss banks have decreased for the second time in a row.
According to Swiss central bank statistics, the ‘total deposits’ of Bangladeshis in Swiss banks include all types of funds, including personal, bank, and other enterprise deposits.
Thousands of people from different countries around the world keep money earned legally and illegally in Swiss banks. Due to the country’s strict secret banking policy, people from all over the world deposit money there.
Swiss law strongly protects consumer privacy. As a result of this law, the country’s banks are not obliged to disclose customer information to anyone under any circumstances.
As a result, the banks do not give any information about who, why, or how the money is deposited in the bank. But recently, many people have moved their money from Swiss banks to other countries around the world due to privacy questions and criticism.
