SL money in Swiss banks!

July 4, 2012 | kirula | English |

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According to the Swiss National Bank (SNB) the government of Sri Lanka or companies or individuals in Sri Lanka have maintained CHF (Swiss Francs) 85 million as deposits and liabilities listed against Sri Lanka was CHF44 million during the year 2011.

The value of a Swiss Franc (CHF) is little above an American Dollar (1 CHF = 1.04US$) According to Swiss regulations the identity of depositors and debtors is protected. The corrupt governments individuals, companies and businessmen often take advantage of the financial policy in Switzerland to deposit their black money.

Details regarding deposits and liabilities of more than 200 countries have been mentioned in the latest report of SNB. Accordingly, the deposits Sri Lanka has in Swiss banks since 2001 are as follows: (All figures in Swiss Francs)

22.9 million in 2002, 34.7 million in 2003, 105.5 million in 2004, 177.8 million in 2005, 56.5 million in 2006, 123.5 million in 2007, 104.8 million in 2008, 87.5 million in 2009 and 111.3 million in 2010. Most of the deposits are in savings accounts.

Money (in CHF) deposited by banks in Sri Lanka in Swiss Banks from 2002 to 2011 is respectively as follows: 12.3 million, 24.2 million, 78.4 million, 41.5 million, 94.1 million, 60.6 million, 82.1 million, 85.7 million and 77.7 million.

Bangladesh that has a bigger population than in Sri Lanka and a better per capita income has deposited less than that of Sri lanka. Its highest asset-year was 2005 – CHF 94.4 million and lowest in 2006 – CHF 22.2 million. Its liabilities were, however, as high as Sri Lanka at CHF 243 million in 2007.

It was unclear whether the data reflected annual figures or was carried-forward from the previous year or whether each year was a separate, new investment figure. If it was the latter, investments under Sri Lanka would total 910.3 million (for the past 10 years) while liabilities would total 1.07 billion.

The following web link of the SNB gives details of assets and liabilities of all countries:

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