At various times, Bangladesh has asked for specific information about the money deposited by Bangladeshis in Swiss banks. The country also provided some information. Bangladesh has asked for information even after the annual report of the Swiss National Bank was published last June. Bangladesh Financial Intelligence Unit (BFIU) under the control of Bangladesh Bank informed this information.
In an event in the capital on Wednesday, Switzerland’s ambassador to Dhaka, Nathalie Shuard, said that no specific information was sought from Bangladesh regarding the money kept in the Swiss bank. His statement later gave rise to discussions at various levels. Because, Bangladesh Bank and ACC have told the media about asking for information at different times.
On Thursday, the day after the ambassador’s speech, the High Court asked whether specific information was sought about Bangladeshis keeping money in different banks of the country. These were discussed in the cabinet meeting yesterday. It is said that the matter of exchange of information will be informed to the Ambassador of Switzerland through the Ministry of Foreign Affairs. In the meeting in the presence of the governor, it was decided that the information sought by the BFIU will be presented to the court. Those concerned said that FIU of Bangladesh has no separate agreement with FIU of Switzerland. Since 2014, several attempts to reach an agreement with the country have not received a response. However, both companies are in the ‘Egmont Group’. As members of , exchange information with each other through secure webportals. Egmont Group is an international forum composed of FIUs from different countries. BFIU became a member of this forum in 2013. Switzerland used to not publish any information. Now every year the central bank of that country publishes the information of their liabilities and assets with other countries of the world.
It is known that at the request of BFIU, the Swiss National Bank has provided information about deposits of 67 individuals and organizations in Bangladesh. These information about money laundering suspects are given to various law enforcement agencies, ACC and investigative agencies in Bangladesh. According to sources, the Egmont Group’s agreement covers the exchange of average information. It would be easier to get detailed information if it was possible to contract directly with the BFIU of the country. Although FIU has signed agreements with many countries of the world, Bangladesh has not been able to convince Switzerland.
A BFIU official told Samakal that specific information has also been sought from Switzerland regarding allegations of money laundering through Paradise, Panama, Pandora Papers or any other medium. In most cases, they have responded. However, what answer they gave, whether they gave any information – it is not known due to restrictions on publication. He said that a long-term process has to be followed to bring back the smuggled money. After receiving information suspected of trafficking, first a case has to be filed in one’s own country based on preliminary intelligence information from one country to another. After proving the case, information is sought under Mutual Legal Assistance (MLA). After that, if the law of that country is a crime, it is possible to get the money back. This process is long term.
Apart from BFIU, National Board of Revenue (NBR), Anti Corruption Commission (ACC), law enforcement agencies exchange information with various countries. Apart from this, under the MLA, information is also requested from the Attorney General’s office from various countries.
The Swiss National Bank (SNB), the central bank of Switzerland, published its annual report on June 15, 2021. According to the report, at the end of 2021, various Swiss banks owe 871.1 million Swiss francs to Bangladeshi institutions and individuals. In Bangladeshi currency (95 taka per franc) which stands at 8 thousand 275 crore taka. Out of the money that Bangladesh has in the country, 844.5 million francs or 8 thousand 23 million taka belong to the banks of this country. Customer deposits are 2 crore 63 lakh francs or Tk 250 crore.
In a seminar on June 18, Additional Director of BFIU Kamal Hossain said that 97 percent of the money deposited in Swiss Bank is from different banks. It is kept for international trade settlement. The remaining 3 percent is personal deposits. As a result, if anyone doubts, they have to do with this 3 percent money. However, even though this money belongs to Bangladeshis, not all of it has remained in Bangladesh. He said that it is a crime to take money outside the country without permission under the law of Bangladesh. However, in most countries of the world money obtained through crime and tax evasion is considered a crime.
