Business Desk :
The Bangladesh government has already sought information about Bangladeshi depositors in Swiss banks but are yet to receive a reply, said Finance Division officials.
They said Bangladesh Bank had sent several letters to the Swiss National Bank over the last three years seeking the information. But the SNB authorities have never answered.
However, India will be receiving information about the country’s depositors in Swiss banks under the “Automatic Exchange of Information” agreement signed between Switzerland and India.
As there is no such agreement with Bangladesh, the government will again seek information on depositors in Swiss banks, as SNB data shows that deposits by the Bangladeshis surged by 19pc in 2016 from a year ago.
Also Read – Bangladeshi money in Swiss banks jumps by 19pc, officials said the information will help Bangladesh take back money believed to be laundered there.
Last May, Switzerland bent to pressure from the United States and the European Union and relaxed its law of secrecy, which for generations has been the principal cause of attraction for deposits.
Following the development, the Federal Banking Commission of Switzerland said that it would abolish the so-called Form B bank accounts that have enabled dictators, drug barons, arms dealers and the like to keep ill-gotten gains in Switzerland without disclosing their identity.
The Bangladesh government has already sought information about Bangladeshi depositors in Swiss banks but are yet to receive a reply, said Finance Division officials.
They said Bangladesh Bank had sent several letters to the Swiss National Bank over the last three years seeking the information. But the SNB authorities have never answered.
However, India will be receiving information about the country’s depositors in Swiss banks under the “Automatic Exchange of Information” agreement signed between Switzerland and India.
As there is no such agreement with Bangladesh, the government will again seek information on depositors in Swiss banks, as SNB data shows that deposits by the Bangladeshis surged by 19pc in 2016 from a year ago.
Also Read – Bangladeshi money in Swiss banks jumps by 19pc, officials said the information will help Bangladesh take back money believed to be laundered there.
Last May, Switzerland bent to pressure from the United States and the European Union and relaxed its law of secrecy, which for generations has been the principal cause of attraction for deposits.
Following the development, the Federal Banking Commission of Switzerland said that it would abolish the so-called Form B bank accounts that have enabled dictators, drug barons, arms dealers and the like to keep ill-gotten gains in Switzerland without disclosing their identity.
