The amount of money deposited by Bangladeshis in Swiss banks has decreased at an amazing speed. Bangladeshis have withdrawn Taka 10.50 thousand crore from Swiss banks in the last one year.
It is known that in 2021, where Bangladeshi deposits were 87 crore 11 lakh Swiss francs, at the end of 2022 it has reduced to only 5.5 crore francs. This information has emerged in the annual report of the Swiss central bank. However, the report does not explain what the Bangladeshis have done by withdrawing this huge amount of money.
According to the report of the Swiss central bank, at the end of 2021, the amount of money deposited by Bangladeshis in various banks in Switzerland was 87.1 crore Swiss francs. In 2022, it decreased to about 55.3 crore Swiss francs. The exchange rate of Bangladeshi currency per Swiss franc is around 121 taka. Accordingly, 5 crore 53 lakh Swiss francs is about 669 crore taka.
According to the report of the Swiss central bank, not only the money of Bangladeshis has decreased in the banks of Switzerland. Deposits of India, Pakistan, Singapore, China, Russia, Saudi Arabia, USA also decreased. In 2021, Indian deposits in Swiss banks were around 3.83 billion Swiss francs. Last year it fell to 3.4 billion Swiss francs.
Similarly, in 2021, Pakistani deposits in the country were around 71 crore Swiss francs. Last year it fell to 3.90 crore Swiss francs. And Saudi Arabia's deposits have halved in a year. In 2021, the amount of deposits of Saudi Arabian nationals in Switzerland was 145 crore Swiss francs, which decreased to 5.21 crore last year.
Ahsan H. Mansoor, executive director of the private research organization Policy Research Institute (PRI), believes that the country's ongoing dollar-crisis is a major reason for the sudden drop in money of Bangladeshis in Swiss banks. He said that due to the dollar crisis in the country, these institutions may have withdrawn money from there or could not deposit new money. Maybe some of the smuggled money has been removed from the country.
He also said that many Bangladeshis live in Switzerland now. They also legally deposit money in the bank there. As there has been some sort of economic pressure around the world, perhaps those who would have legally deposited money there, have reduced their savings capacity.
According to the report, the money of Russia, which is involved in the war with the European country Ukraine, has also decreased in Switzerland. However, the rate of decline is lower than Saudi Arabia, 28 and a half percent. In 2021, deposits of Russian individuals and institutions in Switzerland amounted to 2,137 billion Swiss francs. Last year it decreased to 1,526 million Swiss francs.
According to the SNB report, Bangladeshis had the lowest amount of money in Swiss banks in 2003 from 2000 to 2022. That year, the amount of money deposited by Bangladeshis in the country's banks was only two and a half crore Swiss francs. The country then had the highest amount of money deposited by Bangladeshis in 2021, over 87 crore Swiss francs.
In terms of total deposits, Indians have the largest deposits in Swiss banks among South Asian countries. However, it also decreased by 11.2 percent to 3,400 crore Swiss francs.
Bangladesh ranks fifth among South Asia in terms of total deposits in Swiss banks.