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Uncertainty looms over bringing back Swiss bank money

Md Mahfuzur Rahman || risingbd.com

Published: 09:59, 22 August 2015   Update: 15:18, 26 July 2020
Uncertainty looms over bringing back Swiss bank money

File photo

Niaz Mahmud: The Swiss National Bank (SNB) has not replied to Bangladesh authorities as the country has sent a series of letters to the bank to return back a total of entrusted Tk 4,300 crore in the bank.

As the NSB has not responded the Bangladesh Bank’s three letters, sent in this connection, uncertainty has been grown up to return the smuggled money.

Bangladesh Bank authorities, however, are taking preparations to send another letter to the bank to get any responses, sources from central bank, told risingbd.com.

According to the report of Banks in Switzerland, published in 2014, a total of 50.60 crore (4,300 crore in BDT) Swiss franc has been entrusted in separate banks and financial organizations in the country by Bangladeshi citizens in separate times.

The amount was Tk 3,160 crore in 2013 while it was Tk 1,945 crore in 2012, according to the report.

Bangladesh Bank sources also said, as there was no Memorrundum of Understanding with the country, the smuggled money could not bring back in the country.

While contacted, spokesman of Bangladesh Bank, M. Mahfuzur Rahman, confirmed, “Separate letters have been issued to the Swiss bank in this regard but the bank has not replied for one letter.”

Dr Zahid Hasan, the chief economist of World Bank in Dhaka office, however, told risingbd.com that diplomatic relations were needed to return back the money from the bank.


risingbd/ DHAKA/ August 22, 2015/ Niaz/ Mahfuz

risingbd.com