In the banks of Switzerland in just one year, Bangladeshi people and bank deposits have increased by about 12 times. In 2021, where this figure was 1 million Swiss francs, it jumped in 2021 to 1.5 million francs, with a Bangladeshi value of around Tk 8,122 crore.
The Swiss National Bank (SNB) recently published this information in the annual report. It is said that the deposits of Bangladeshi banks increased from 1.5 million francs in 2021 to 5.7 million, which is more than 5 times. However, the individual level has dropped somewhat – 12.22 million fran, which is about 5 percent lower than the previous year.
These statistics are the fifth highest in the data collected since the 5th and the second highest in the last five years. The highest was in 2021 – 1.5 million fran.
According to analysts, the country's economic uncertainty, the dollar crisis and the opening opportunities for transfer abroad have increased interest in Swiss banks. Economists have also said that the bank level deposits are indicative of smuggling money in the name of foreign investment or import-export.
However, the Swiss National Bank's statistics only publishes the deposit, which is not valid or illegal.
The Economic Cooperation and Development Organization (OCD) has launched the 'Automatic Exchange of Information' (AOI) around the world since the 21st. Under this, the Swiss Federal Tax Administration has exchanged information about 1.5 million bank accounts with six countries in 2021.
But the latest of the OECD (March 2021) shows that Bangladesh has not yet promised to participate in the platform. However, neighboring countries like India and Pakistan are already actively involved in the information.
In this regard, an economist said, “Bangladesh is not yet participating in the international structure of transparency, the citizens of the country are able to easily hide money abroad. To get the information, we have to bring ourselves under transparency first. '
In 2022, the Bangladesh Financial Intelligence Unit (BFIU) suspected the Bangladeshi bank to find information to the Swiss authorities. But only one person got information.
Concerned that the laws and processes of Bangladesh have not yet reached international standards, so Swiss banks are not obliged to give this information.
This explosive growth of Bangladesh's deposit in Swiss banks has not only the economic context, but also the lack of institutional weakness and transparency. The demand for implementing strict laws to prevent money laundering, participation in the international platform in exchange for information and implementing anti -corruption policies are now raised. Otherwise, if this trend continues, the financial security of the state will face the question.
