Bangladeshis are withdrawing money from Swiss banks at an unprecedented speed

Bangladeshi money withdrawals from various banks in Switzerland have increased at an unprecedented pace in the last one year. In 2023, Bangladeshis have withdrawn their huge amount of deposits from the country's banks.

According to the annual report published by the Swiss National Bank (SNB) on Thursday (June 20), the amount of deposits of Bangladeshis in Swiss banks decreased from 5.5 million Swiss francs to 1.8 million francs last year. This speed of withdrawing money of Bangladeshis from the country's banks is said to be intense.

The rate of Bangladeshis withdrawing money from Swiss banks has been increasing for the past few years. Earlier, SNB's 2022 annual report showed that in 2021, the amount of deposits of Bangladeshis in Swiss banks was 871.1 million Swiss francs. But the next year, i.e. in 2022, it decreased to 5 million 50 million francs.

And in the report published on Thursday, the SNB said, the deposits of Bangladeshis in the Swiss bank decreased from 5 million 50 million francs to 1 million 80 million francs. Assuming 131 taka per franc, the amount is about 238 crore taka.

According to the review of the report, the amount of money deposited by Bangladeshis in Swiss banks reached 872 million Swiss francs in 2021. Which is the highest amount of money deposited by Bangladeshis in the country's banks.

However, in 2020, the amount of money deposited by Bangladeshis in Swiss banks was less than the previous year. That year, the amount of money collected by Bangladeshis in Swiss banks was 56 million 30 million Swiss francs; Which is more than 5 thousand 203 crores in Bangladeshi currency.

The previous year i.e. in 2019, the amount of money deposited by Bangladeshis in different banks of the country was 603 million francs. In 2018, this amount was 620 million Swiss francs. And in 2017, its amount was 66 million 19 million Swiss francs.

Meanwhile, the rate of money deposits in Swiss banks by various institutions and citizens of Bangladesh's neighboring India has decreased by about 70 percent in 2023. In 2023, deposits by Indians reached a four-year low.

Indian money in Swiss banks stands at 1.04 billion Swiss francs despite declining deposits; Which is about 9 thousand 771 crore rupees in Indian currency. With this, the deposits of Indian institutions and citizens in Swiss banks have decreased for the second time in a row.