First News
Volume:8, Number:02
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Deposit by Bangladeshis in Swiss Banks Rises by Twenty Percent

| Navid Ahmed |

According to a report released by Swiss National Bank (SNB) on June 29, deposits by Bangladeshi citizens at Swiss banks rose to BDT56.66 billion in 2016 from BDT45 billion in 2015, up by 20.57 percent from the earlier rate of 9 percent. The deposits went up despite an ongoing global clampdown on the famed secrecy wall of the Swiss banking system. The deposited amount stood at BDT42.83 billion in 2014, 36.02 percent up from the previous year. It was BDT31.49 billion in 2013 and BDT19.91 billion in 2012. Subhankar Saha, executive director of Bangladesh Bank, told that Bangladesh Bank is unaware of what the Swiss central bank based the report on. He said the Bangladesh central bank works diligently to prevent money laundering. An anonymous Bangladesh Bank official, when asked about the deposits, said the central bank could not clarify the nature of the deposits. But the official said that many deposit their valuables in these banks and the money is usually siphoned from Bangladesh.

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