*ISLAMABAD – Pakistani’s wealth at Swiss banks showed a downward trend byalmost 21% to stand at CHF 1.115 billion in 2017, stated by Indian mediareport.*
According to latest data released by Switzerland’s central bank SNB (SwissNational Bank), the funds linked directly to clients from Pakistan stood atCHF 1,100.7 million at the end of 2017, while the money held throughfiduciaries or wealth managers was CHF 15 million.
“Despite the decline, the money held by Pakistani nationals and entitiesremain above that of Indians, which rose by over 50 percent to CHF 1,015million in 2017 after three consecutive years of decline,” the report added.
Earlier in 2015, these funds had risen 16 percent from CHF 1,301 billion at2014-end. As per the SNB data, the total funds linked to Pakistan in Swissbanks stood at a record high level of CHF 3.43 billion in the year 2001,but has come down considerably since then and has hit the lowest levelsince 1996, from which this data is available.
Meanwhile, the total funds held by all foreign clients of Swiss banks roseabout 3pc to CHF 1.46 trillion in 2017.
This is the third year in a row that the funds linked to Pakistan in Swissbanks have exceeded that of Indians.