Press Esc to close
Thursday 18 December 2014
News updated at 10:45 PM IST
Weather
Max: 26.2°C
Min : 19.5°C
In Bengaluru
Generally cloudy

Pak money in Swiss banks higher than India's: Switzerland data

Zurich/New Delhi, Jun 21, 2013 (PTI)
A Swiss National Bank (SNB) logo is pictured on the SNB building in Bern October 16, 2008. Reuters

When it comes to money in Swiss banks, Pakistan has a slight edge over India with total funds amounting to 1,441 million Swiss francs (about Rs 9,200 crore) held there by Pakistani individuals and entities.

However, this was the lowest level for such funds ever since Switzerland's central bank began compiling this data in 2002 and was less than half of the record high amount of over 3 billion Swiss francs recorded in 2005. The previous record low of 1.95 billion Swiss francs was seen in the year 2010.

In their local currency, the total funds held by individuals and entities from Pakistan in Swiss banks stood at over 15,000 crore Pakistani rupees as on December 31, 2012.

This marked a decline of nearly 32 per cent from 2,119 million Swiss francs (about Rs 23,000 crore Pakistani rupees) at the end of 2011, as per the latest annual report of Switzerland's central bank on banks operating in the country.

The issue of alleged stashing of black money in Swiss banks has been a matter of intense debate in Pakistan, as there have been reports of some top former government leaders having kept their money in banks in the European country due to their hugely popular 'safe-haven' status.

However, a higher amount than Indian entities assumes significance because Pakistan is a much smaller country in terms of population and area.

Still, the quantum of money held by Swiss banks for their Pakistani clients was about 1.5 per cent higher than the equivalent figure for Indians at 1,421 million Swiss francs (about Rs 9,100 crore) at the end of 2012, the latest data compiled by Swiss National Bank (SNB) shows.†


Go to Top

Photo Gallery
Children during a Christmas celebration at National Centre for Performing Arts ...

Children during a Christmas celebration at National Centre for Performing Arts ...

Hero Action Team during a cycling expedition at Kufri...

Hero Action Team during a cycling expedition at Kufri...

People warm themselves next to a fire on a winter morning...

People warm themselves next to a fire on a winter morning...

Indian Space Research Organisationís GSLV-Mark III rocket...

Indian Space Research Organisationís GSLV-Mark III rocket...

Micromax co-founder and YU founder Rahul Sharma at the launch of Cyanogen...

Micromax co-founder and YU founder Rahul Sharma at the launch of Cyanogen...

School students hold placards during a rally to protest against the Pakistan terror...

School students hold placards during a rally to protest against the Pakistan terror...

Boxer Vijender Singh and actress Esha Deol during a promotional...

Boxer Vijender Singh and actress Esha Deol during a promotional...

Cakes exhibit at Hotel Oberoi for coming Christmas...

Cakes exhibit at Hotel Oberoi for coming Christmas...

School children in Ahmedabad praay as they pay tributes...

School children in Ahmedabad praay as they pay tributes...

School children of Gurgaon pay tributes to the children killed in Pakistan...

School children of Gurgaon pay tributes to the children killed in Pakistan...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523